CRA International (CRA) Advises Jordan on
Second Concession Agreement for Exploration and
Development of its Oil Shale Deposits
May 13, 2010 08:33 AM Eastern Daylight Time
BOSTON--(EON: Enhanced Online News)--CRA International, Inc. (NASDAQ: CRAI), a worldwide leader in
providing management, economic, and financial consulting services, today announced that the Company advised the
government of Jordan in the structuring and negotiation of an oil shale concession agreement that will allow Enefit, an
affiliate of Eesti Energia AS, to explore and develop oil shale resources in Jordan. Enefit is the largest oil shale to
energy company in the world and has almost 90 years of oil shale experience in Estonia.
The concession agreement with Enefit, which was signed in Amman on May 11, 2010, provides the framework for
the establishment of a Jordanian oil shale industry, including fiscal regime and environmental regulation. Under terms
of the agreement, Enefit will conduct geological and hydrogeological studies of Jordan’s oil shale resources and
undertake an environmental impact assessment of its oil shale processing technology. Within four years, Enefit will
decide whether to continue with the project development and begin the construction of an industrial complex. Enefit
may use Jordan’s oil shale resources for up to 40 years, with an optional 10-year extension.
CRA provided commercial advice to the government of Jordan to develop an effective deal structure which is
sustainable throughout the duration of the concession agreement. The advice focused on promoting successful
resource development through effective sharing of project revenue and management as well as mitigation of project
risks. This is the second oil shale agreement in which CRA has been an advisor; in May 2009, CRA announced its
role in advising Jordan on an oil shale concession agreement granted to Royal Dutch Shell plc.
“CRA has a long and distinguished track record in consulting assignments for the exploration and developm