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Jordan, Estonia initial multi-billion-dollar oil shale deal

Business Materials 30 April 2008 22:12 (UTC +04:00)

The Jordanian government on Wednesday signed a agreement with the Estonian energy firm Eesti Energia for generating electricity from oil shale, according to an official statement, the dpa reported.

The project, with an eventual estimated cost of six billion dollars, provides for a power generating capacity ranging between 600 and 900 megawatts within six years, using the technology of direct burning of oil shale.

The accord was signed by Jordanian Minister of Energy and Mineral Resources Khaldoun Quteishat in the presence of the visiting Estonian Minister of Economic Affairs and Communications Juhan Parts.

Quteishat said that the Jordanian government was inviting offers from other international firms to exploit the country's oil shale reserves currently estimated at about 40 billion tons.

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