YTL POWER INVESTS IN OIL SHALE PROJECTS IN JORDAN

KUALA LUMPUR, Dec 14 (Bernama) -- YTL Power International Bhd (YTLPI) is
investing in oil shale projects in Jordan with the acquisition of a 30 per cent
stake in Eesti Energia's Jordanian oil shale projects.

Eesti Energia and its Jordanian partner Near East Investment (NEI), together
with YTLPI, will develop an oil plant with output of approximately 38,000
barrels per day.

Construction will commence following further analysis of the resource and
environmental studies.

The plant will utilise Eesti Energia's leading proprietary oil recovery
technology, which has more than 30 years of industrial production in Estonia.

As the new strategic partner, YTLPI will contribute its experience in
developing and operating large energy production and trading assets in emerging
markets, it said in a press statement today.

According to the new shareholding structure Eesti Energia owns 65 per cent,
YTLPI 30 per cent and NEI five per cent of the oil shale projects in Jordan.

Eesti Energia, is the national energy company of Estonia which is
internationally known as Enefit while YTLPI is the utility subsidiary of YTL
Corporation Bhd.

"We are delighted to have the opportunity to invest alongside Enefit, with
its leading expertise in oil shale fired power generation and technology for oil
recovery," said YTLPI's executive director Yeoh Seok Hong.

Enefit's chief executive officer Sandor Liive said YTL's presence will make
a great contribution to the realisation of these projects which will put Jordan
for the first time on the way to energy independence.

In May 2010, Jordan Oil Shale Energy Company, a subsidiary of Eesti Energia,
signed a concession agreement with Jordanian government for the mining of oil
shale from Attarat um Ghudrun oil shale deposit in Jordan.

This was the first surface mining oil shale concession to be awarded by the
Jordanian government.
-- BERNAMA


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