Cenovus Energy Inc. has submitted applications for a thermal development project in the Athabasca oil sands of Alberta that will require dewatering of an aquifer overlying some of the bitumen.
Forecasts are starting to indicate a rebound in activity for developing bitumen production from the oil sands in Alberta.
Officials from the Alberta agency that regulates oil and gas visited Washington, DC, in early May to deliver a basic message: Production of oil from the Canadian province's substantial oil sands won't be allowed to destroy the environment there.
The expected economic recovery in developing the oil sands in Alberta may start in late 2009 or early 2010, said Robert J. Mason, managing director, head of oil sands, investment banking, global energy, and power group, TD Securities Inc., Calgary.
Fort Hills Energy Corp. plans to build an oil sands upgrading facility on 1,800 hectares in Sturgeon County, 40 km northeast of Edmonton, Alta.
South Korea has signed an agreement to buy a 100% stake in the Blackgold Mine oil sands field in the Cold Lake region of Alberta.
Suncor Energy Inc., Calgary, let a contract to KBR Canada to carry out turnaround services next year for its oil sands plant in Fort McMurray, Alta.
Joint venture partners Nexen Inc. and OPTI Canada Ltd., both of Calgary, awarded a contract to GE Energy, a division of General Electric Co., Atlanta, for the supply of gas turbines for the JV's Long Lake oil sands project in Alberta.
The pace of oil sands development in northern Alberta is quickening, despite soft oil prices and substantial cost overruns on projects under way. More than 63 projects costing more than $51 billion (Can.) have been announced in the past 5 years.
Canada's oil sands industry in Alberta has a "very robust" future—given a reasonable outlook for oil prices and that it can overcome a number of challenges.