Eesti Energia Õlitööstus is the most successful chemical industry company

Topping the rankings compiled by the newspaper Äripäev, Eesti Energia Õlitööstus AS produced approximately 1.4 million barrels of shale oil last year. The company had a turnover of EEK 845 million and a profit of EEK 250 million. In the 2009/2010 financial year, investments worth EEK 447 million were made, and the construction of a next-generation shale oil plant was launched.

"We have been doing our own thing in the belief that oil shale is a valuable resource and that producing liquid fuel from it is the right thing to do," commented Sandor Liive, Chairman of the Management Board of Eesti Energia, on the success of Õlitööstus. "If a few years ago producing oil from oil shale was considered the realm of science fiction, today the situation is different, and it is in oil shale that the world's largest energy companies also see great potential and an alternative to the dwindling oil supply," Liive explained.

According to Igor Kond, Chairman of the Management Board of Eesti Energia Õlitööstus, this success has been achieved thanks to a talented team and persistence. "To achieve these results, work has been going on for decades, and during this time the best has been taken from the amassed experiences," he explained. "It matters, too, that we have not been content to simply rest on our laurels but are instead engaged in continuously perfecting our technology and making our work more efficient."

This year, the shale oil plant at Auvere, Ida-Viru County, celebrated its 30th anniversary of production. With the assistance of two Enefit-140 production units, approximately 1.3 million tonnes of oil shale is processed annually by the company, which employs 190 staff. Approximately 50% of the output is exported and used as components in bunker fuel. Local consumers use shale oil primarily in boiler houses and smaller power plants, to generate heat and power, but also in agriculture and road construction.

Last May, the company launched the construction of a new Enefit-280 oil plant. The plant, due to be completed in 2012, will step up the current production capacity by approximately 2 million barrels of shale oil and 75 million cubic metres of distilled gas. The new plant will have an integrated 35 MW steam turbine, which will utilise the residual heat generated by oil production, producing power from it. The plant, which will process 2.26 million tonnes of oil shale a year, will use environmentally friendlier and more reliable technology with a higher unit capacity developed in collaboration between Eesti Energia and Outotec, an international engineering firm. The Enefit-280 oil plant will provide employment to 80 people residing primarily in Ida-Viru County.

The top 3 of the rankings of chemical industry companies compiled by Äripäev, based on 2009 financial results, included Novotrade Invest AS and OÜ Orica Eesti, which engages in the production of explosives. Eesti Energia Kaevandused AS also has a 35% holding in the latter.

Marina Bachmann
Press Officer
Eesti Energia AS
Phone: 71 51 218
GSM: 56 456 600