BLM Extends Enefit’s Oil Shale RD&D Lease
Enefit American Oil (EAO) is pleased to announce that the U.S. Bureau of Land Management (BLM) has granted a five-year extension of the company’s oil shale Research Development & Demonstration (RD&D) lease on 160 acres of federal land in eastern Utah’s Uintah Basin.
RD&D leases were created to encourage private companies to research and develop on ways to produce liquid fuels from oil shale and then commercialize the resulting technology. Enefit acquired an existing RD&D lease as part of its purchase of private property, options and leases from another oil shale company in 2011.
“EAO has met the requirements of the provision of its RD&D Lease authorizing a five-year extension of the lease terms, and granting the extension is in the public interest and consistent with energy policy of the United States,” BLM Utah State Director Edwin L. Roberson writes in the Record of Decision signed June 27, 2017.
“We’re delighted that the BLM recognizes our progress on the Utah Project,” said EAO CEO Rikki Hrenko-Browning. “By extending this lease through mid-2022, the BLM is demonstrating its long-term commitment to working with the energy industry to unlock the tremendous potential of oil shale as an energy source.”
Over the past six years, Enefit has invested significant resources to move its Utah Project forward, including community outreach and education; extensive testing of the oil shale resource at the company’s facilities in Europe; environmental baseline studies; requesting permission for utilities to cross federal land, including participating in the required Environmental Impact Statement process; and facilitating the successful assessment of the company’s oil shale resources, resulting in the world’s first oil shale-to-shale oil Reserve designation, which shows that the Project is technically and financially feasible.
EAO is the U.S. subsidiary of Estonia-based Enefit, the world leader in producing power and liquid fuels from oil shale using its proprietary technology.
# # #