uncategorized ยท 5/13/2013

Neste Jacobs and Global Oil Shale sign Oil Shale Development and Engineering Agreement

Neste Jacobs
Press release
13 May 2013 at 9 a.m. (EET)

Neste Jacobs and Global Oil Shale sign Oil Shale Development and Engineering Agreement

Technology, engineering and project management company Neste Jacobs Oy and energy company Global Oil Shale Group PLC ("GOS") have signed a Strategic Oil Shale Development and Engineering Agreement 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.

Neste Jacobs will participate in GOS's oil shale processing plant development comprising engineering, process modeling, testing and optimizing, construction commissioning as well as health & safety monitoring of GOS oil shale plants.

Furthermore Neste Jacobs will act as a joint Coordinator and Project Manager to integrate details from GOS' other partnerships for oil shale concentration and thermal processing in order to enable efficient modeling, scaling up and simulation of oil shale processes. GOS has already assigned the first projects to Neste Jacobs to be performed under the agreement.

Initial oil shale projects for the collaboration include GOS's 2.18 billion BOE oil shale project in Julia Creek, Queensland, Australia as well as GOS's oil shale projects in evaluation and preparation elsewhere in the world including North Africa and the Middle East.

"The agreement with GOS is a significant milestone for our company and strengthens further Neste Jacobs' already good position in Oil Shale business. We are glad to be able to help GOS to succeed in their innovative business", says Jarmo Suominen, Managing Director of Neste Jacobs.

"We regard Neste Jacobs as a reliable and professional partner to co-operate with when reaching for our target production profile of up to 50 000 boepd for our oil shale development projects. We are really looking forward to a long lasting co-operation with Neste Jacobs", says Petri Karjalainen, Executive Chairman of Global Oil Shale Group.

For more information please contact:

Jarmo Suominen, Managing Director, Neste Jacobs Oy, tel. + 358 50 458 3399

Petri Karjalainen, Executive Chairman, Global Oil Shale Group PLC, tel. + 44 7811 200 885

Neste Jacobs in brief
Neste Jacobs is a preferred solution provider of high-quality technology, engineering and project services for a wide range of industries in the oil and gas, petrochemicals, chemicals and biotechnology fields. We have more than 50 years of experience in technology development and industrial investment projects as well as maintenance and performance improvement in Europe, North and South America, Asia and the Middle East. In addition to the Nordic countries we are looking to grow in the expanding markets of the Middle East and Russia in particular. We employ some 1,000 professionals globally.

Global Oil Shale Group in brief
Global Oil Shale Group PLC is a global energy company exclusively focused on oil shale mining and processing. The company's focus is to implement large scale mining and processing of the world's kerogen rich oil shale deposits to synthetic crude oil with potential for significant electricity co-production and other value added products. GOS has a leading team of some 20 oil shale specialists with over 200 years' experience in the development, management and production of oil from oil shale. The company has offices in London, Estonia, Australia and Morocco and has registered offices in St Helier (Jersey).