Estonian state power company Eesti Energia and Morocco are planning to sign a letter of intention on jointly developing oil shale technology. Under the agreement, Eesti Energia would get exclusive right to survey the country's oil shale deposits for three years.
ERR reported that Morocco was interested in using Eesti Energia's experience and technology for extracting shale oil.
Preliminary surveys are already ongoing and until now it has not been decided how much either side will contributed to the project financially. According to the Estonian energy company, if the results of the survey are positive, Eesti Energia plans to develop the country's oil shale resources and license its Enefi oil shale technology to Morocco.
The company says that Morocco has one of the world's largest oil shale deposits. It has over 10 known oil shale deposits and an estimated reserve of 50 billion barrels of shale oil. In comparison, Estonia extracts 15 tons of oil shale and produces about one million barrels of shale oil a year.