Technology, engineering and project management company Neste Jacobs, has also signed a deal with GOS to collaborate in oil shale processing and plant design for converting oil shale into liquid fuel and gas as well as any upgrading required for synthetic crude oil production.
Oil shale contains kerogen, a mixture of organic chemical compounds from which oil and natural gas can be manufactured. However extracting oil from oil shale is more complex than conventional oil recovery.
In both deals, the parties will initially focus on GOS’s existing oil shale resources, such as a 2.18 billion barrels oil shale project in Julia Creek, Queensland, Australia and other deposits under evaluation and acquisition elsewhere in the world including North Africa and the Middle East.
We believe that kerogen concentration has the potential to unlock significant value as well as improve the environmental performance of the oil shale industry, says Kari Knuutila, Chief Technology Officer of Outotec. Our collaboration with Global Oil Shale will complement our expertise in the energy sector.
The agreement with GOS is a significant milestone for our company and strengthens further Neste Jacobs’ already good position in the oil shale business, says Jarmo Suominen, Managing Director of Neste Jacobs.
GOS is a global energy company exclusively focused on oil shale mining and processing.
The volume of worldwide deposits of organic material in oil shales have been estimated as equivalent to about 2.8-3.3 trillion barrel of oil.
News courtesy of Finnfacts / Good News! from Finland
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