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Show Paraho confirms plans for Utah oil shale study Paraho Development Corporation, a leading oil shale technology company, confirmed Thursday of last week that it has been selected by the Department of Energy (DOE) to receive a $3,151,064 oil shale grant. The purpose of the grant is to permit Paraho to perform a twelve month Commercial Feasibility Study. The Study will cover the expansion of Paraho's proposed single, full-size oil shale mining and retorting module to a 30,000 barrel per day commercial plant to be located 40 miles southeast of Vernal and about three miles southeast of Bonanza. This represents the second major oil shale program recently awarded to Paraho. Last month Paraho entered into a series of cooperative agreements with the DOE and ten major energy companies. These agreements provide approximately $9 million to Paraho for a Pnase 1 design and cost estimate of Paraho's proposed module. The commercial feasibility study will compliment the Phase I program and produce a design for an expanded 30,000 barrel per day facility. These two programs will assist Paraho in its efforts to obtain financing from government and industry for the construction and operation of the module and its proposed expansion to a 30,000 barrel per day commercial plant. This plant is to be sited on Paraho's state oil shale lease in Uintah County. Paraho is utilizing several subcontractors. sub-contractors. Included are the Standard Oil Company of Ohio (Sohio), the Cleveland-Cliffs Iron Company, Davy McKee Corporation, AeroVironment, Incorporated, VTN Consolidates, Inc., and Woodward-Clyde Consultants. All of these subcontractors have had prior roles in Paraho's oil shale development. |
