CAPP eases outlook for Canadian oil output

Oil production in Canada will increase at an average rate of 175,000 b/d/year through 2030—but not to as high a level as was forecast a year ago, reports the Canadian Association of Petroleum Producers.

Output from oil sands dominates CAPP’s projection, rising from 1.9 million b/d in 2013 to 2.3 million b/d in 2015, 3.2 million b/d in 2020, 4.1 million b/d in 2025, and 4.8 million b/d in 2030.

Last year, CAPP forecast oil sands production in 2030 of 5.2 million b/d. The difference between that outlook and the new one relates to uncertainty about major projects late in the forecast period.

“The difference between the two forecasts later in the period primarily reflects increasing uncertainty regarding project timing related to cost competitiveness and capital availability,” the association says. “These impacts are more evident in proposed oil sands projects near the end of the forecast period.”

In the new forecast, total Canadian oil production increases to 6.4 million b/d in 2030 from 3.5 million b/d in 2013.

CAPP forecasts an increase in conventional production in western Canada to 1.5 million b/d in 2020-30 from 1.3 million b/d in 2013.

Production in eastern Canada, according to CAPP, will average 200,000 b/d through 2015, rise to 300,000 b/d in 2020, and ease to 200,000 b/d in 2025 and 100,000 in 2030.

But three recent discoveries in the Flemish Pass basin “may lead to increased projections for the region in future CAPP forecasts,” the association notes.

Related Articles

Petrobras eyes Lapa field pipeline-heating

08/26/2014 Petroleo Brasileiro SA (Petrobras) will evaluate pipeline-heating systems for use in development of deepwater Lapa oil field in the Santos basin of...

Statoil: Aasta Hansteen gas development on schedule for 2017

08/26/2014 The Aasta Hansteen gas development in the northern Norwegian Sea is on schedule for production start-up in third quarter 2017, reported operator St...

CERI: Market access key to Canadian bitumen output

08/25/2014 Outcomes in two areas of critical uncertainty can mean a difference in Canadian bitumen production in 2030 of 1.7-1.8 million b/d, according to a s...

CNOOC starts up oil field in Pearl River Mouth basin

08/25/2014 CNOOC Ltd. reported that its Wenchang 13-6 oil field has started production. The field, which lies in 120 m of water west of the Pearl River Mouth ...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!


Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected