Plans for a $1.4 billion dollar crude oil upgrader in Uintah County are moving forward which is great news for the local economy in the long run. Vince Memmott, President of Uintah Advantage, gave an update on the project earlier this month during the 7 County Infrastructure Coalition meeting held in Price, stating that $40 million dollars has been invested in the development so far. The property has been purchased, the air permit has been obtained, right of ways are in order for utilities, a significant amount of the engineering work is done, and bids are being gathered on construction. Memmott also said that even low projections show the project to be a profitable return. The plan right now is to have financing finalized in about a year, after which construction will begin. Director of the 7 County Infrastructure Coalition Mike McKee has called the upgrader a potential “game changer” for the local oil and gas industry. An upgrader is much like a refinery and has the potential to level the playing field so Basin oil is worth as much as the national market. 1000 jobs are anticipated during the peak of construction and once complete the upgrader will staff around 150 high paying full time jobs.
