Alberta OKs 3 oilsands proposals
The government of Alberta announced September 15 that three new proposed oil sands developments had cleared an important early step in the regulatory process. Government approved the proposals for:
• The Blackpearl Resources Inc. Blackrod oil sands steam-assisted gravity drainage (SAGD) development
• The Surmont Energy Ltd. Wildwood oil sands SAGD development
• The Husky Saleski oil sands development.
Collectively the projects represent about $4 billion of potential investment into Alberta’s economy and about 95,000 barrels per day of production. The proposed developments will also fall under the new oil sands 100 megatonne greenhouse gas emissions limit, announced with Alberta’s Climate Leadership Plan. The proposals combined equal about 2.5 megatonnes of GHG emissions.
The limit is intended as an incentive for innovation, encouraging lower carbon production, more efficient projects and cost-effective emissions reduction strategies.