## 5 Cost Analysis  
### Cost Composition  
Seldomly successful oil shale production projects have been reported. Based on a news article by The Salt Lake Tribune ([[https://www.sltrib.com/news/environment/2018/10/02/major-utah-oil-shale/](https://www.sltrib.com/news/environment/2018/10/02/major-utah-oil-shale/)]([https://www.sltrib.com/news/environment/2018/10/02/major-utah-oil-shale/](https://www.sltrib.com/news/environment/2018/10/02/major-utah-oil-shale/)) accessed on 26 June 2023) on the development of oil shale in Utah, it is suggested that one of the recommendations for a successful oil shale development is the inclusion of contemporary case studies. By incorporating specific case studies showcasing successful implementations of oil shale extraction and processing, practical insights into the real-world application of the discussed technologies and methodologies can be provided. The oil shale project in Utah has obtained authorization from the federal government to construct a 14-mile corridor across public land, which will serve a proposed strip mine and processing plant. This project is considered the first commercial oil shale operation in North America and aims to produce 50,000 barrels of crude oil per day. It has achieved significant milestones, including obtaining federal authorization for the construction of oil shale extraction and processing facilities on public land and showcasing practical application case studies of oil shale extraction technologies and methods. However, no further specific details or evaluations on oil shale development were provided. Therefore, we can conclude that oil shale development in Utah has achieved some level of success, but further information and assessments are needed for a comprehensive evaluation of its progress. Over the past 60 years, numerous technologies have been developed to recover shale oil from oil shale and process it into fuels and byproducts. As mentioned earlier, technologies were chosen based on their development stage and availability of economic data, providing a broad range of options for surface, near-surface, and deeper oil shale deposits [57]. The costs associated with oil shale development are classified into the following two main categories: capital costs and operating costs. Capital costs encompass the expenses related to the extraction, retorting, and other necessary equipment for oil shale production. These costs are specific to the chosen technology, whether it be surface mining and surface retorting, underground mining, and surface retorting. Operating costs include daily expenses and maintenance for surface and subsurface equipment. The components of operating costs differ depending on the specific technology used, which includes mining, retorting, and upgrading facilities requirements. Surface mining and surface retorting involve extracting oil shale near the surface and heating it to convert the kerogen into shale oil and combustible gases. This technology is applicable to deposits with a low overburden-to-pay ratio. Underground mining and surface retorting are suitable for resources that outcrop along steep erosions or are accessed via shafts, using room and pillar mining techniques. The modified in situ (MIS) conversion process involves mining some of the target shales before heating. The mined shale is rubblized to create void spaces, and combustion is initiated on the rubblized shale, converting kerogen to shale oil and gases, which are captured and returned to the surface. The true in situ (TIS) conversion process requires no mining and is applicable to deeper oil shale deposits. Similar to Shell's in situ conversion process (ICP), this technology uses electric heaters in closely spaced vertical wells to heat the shale slowly, creating micro-fractures in the rock to facilitate fluid flow to production wells. Mining and drilling cost data can be derived from related industries, such as coal mining in the U.S. and oil sands mining in Alberta, Canada.