By OGJ editors
HOUSTON, Feb. 24 -- Canadian Natural Resources Ltd. (CNR), Calgary, will proceed with the first phase of development of the Horizon oil sands leases near Fort McMurray, Alta., via mining and upgrading of bitumen.
Phase 1 production is planned to begin in the second half of 2008 at 110,000 b/d of 34° gravity synthetic crude oil. Phase 2 is to increase production to 155,000 b/d in 2010, and Phase 3 would boost production to 232,000 b/d in 2012.
The first three phases, which encompass only a portion of CNR's oil sands leases, are expected to deliver more than 40 years of production without the declines normally associated with petroleum operations, the company said.
