Everything about The Stuart Oil Shale Project totally explained
The
Stuart Oil Shale Project was an
oil shale development project in Australia near
Gladstone, Queensland. It was Australia's first major attempt since the 1950s to restart commercial use of oil shale. The project was originally developed by Australian companies Southern Pacific Petroleum N.L. and Central Pacific Minerals N.L. (SPP/CPM).
History
In 1995 SPP/CPM signed a joint venture agreement with the Canadian company
Suncor Energy to develop the Stuart oil shale deposit. Suncor was designated as the project operator. In April 2001, Suncor left the project and SPP/CPM became the sole shareholder of the project. In February 2002, due the restructuring of SPP/CPM, SPP became the holding company for the group’s interests, including the Stuart Oil Shale Project. As SPP had granted fixed and floating charges in favour of Sandco Koala LLC in May 2003, the chargee appointed receivers of SPP on
2 December 2003. In February 2004, the Stuart Oil Shale Project was sold by receivers to the newly formed company Queensland Energy Resources.
Industry
The first stage of the project, which cost AU$250-360 million, consisted of an oil-shale mine and pilot
retorting plant, which was constructed in 1997-1999. The plant, which was in operation from 1999 to 2004, used the Alberta-Taciuk Processor (ATP) retort technology. It was the first application of the ATP technology in the world on oil shale. The plant was designed to process 6,000 tonnes of oil shale per day with oil output of .
The second stage with cost of AU$600 million was planned to consist of a single commercial-size module four times larger than the first with total capacity of of oil products (naphtha and medium shale oil) daily. Originally it was planned to become operational in 2006. The third planned stage was construction of multiple commercial production units with capacity of up to 200 000 barrels of oil products per day.
Controversy
The project was heavily criticized by
environmentalists. Over 20,000 people and 27 environment, tourism and fishing groups opposed the shale oil plant.
Further Information
Get more info on 'Stuart Oil Shale Project'.
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