The additional agreement was concluded for the period of 01.04.2013 – 01.01.2014, and under the agreement approximately 600 000 tonnes of shale rock, rich in oil, will be sold to VKG.
Today, Enefit Mines only produces shale rock in the Estonia Mine, where a railroad loading station, necessary for loading the shale rock, shall be built.
Enefit Mines supplies three companies with oil shale. VKG is one of its oldest customers. Enefit does not use shale rock in its own electricity and oil production.
"To guarantee supplies for the electricity as well as oil producers, we must increase output, both in the Estonia Mine as well as the Narva quarry", Veljo Aleksandrov, member of the management board of Enefit Mines, explained. "Last year we closed down the Aidu quarry due to exhaustion of reserves. This year, the oil shale reserves in the Viru quarry shall also be exhausted," he said.
Based on the contract, which is in effect from 1 January 2012 to 31 March 2013, Enefit Mines will deliver approximately 1.6 million tonnes of oil shale to VKG, according to the forecast.
VKG is a private company based on Estonian capital, producing oil from oil shale. Each year, VKG processes 3 million tonnes of oil shale, with the majority of the produced oil being exported. VKG also owns the Ojamaa oil shale mine, which produces up to 2.5 million tonnes of oil shale per year, when operating at full capacity.
Enefit Mines is a company, belonging to the Enefit Group, engaged in oil shale mining, in order to supply the electricity and oil producers with fuel and raw material. The company has two mines and one quarry, as well as a unit engaged in rail transport. Enefit Mines is the largest employer in the region, providing jobs to more than 3000 people in Ida-Viru County.