The Oil & Gas Industry in Canada

A Hot Tip about Energy in Canada

Posted on: 8 Jan 2010

Summary

EnCana has announced plans to build a new $US 2.2 billion in situ oilsands facility at Narrows Lake in northeastern Alberta. When completed, the Narrows Lake project will produce 120,000 barrels of oil per day andbe the first commercial scale facility to use steam assisted gravity drainage (SAGD), which reduces greenhouse gases and increases bitumen extraction. Narrows Lake is the first major project announcement in Alberta’s oilsands in close to a year and may indicate the start of more oilsands project announcements to come. U.S.companies will have opportunities to bid on contracts as EnCana looks for construction, consulting, technology,equipment and other services for the new facility.

 

Market Demand

After a year of project cancellation and postponement announcements in Alberta’s oilsands, Calgary-based EnCana Corporation has announced plans for a multi-billion dollar project at Narrows Lake in northeastern Alberta. The planned 80,000 to 120,000 barrels-per-day in situ oilsands facility will cost approximately $US 2.2 billion and will be developed in two or three phases each of which will add 40,000 barrels-per-day of production. EnCana plans to file for regulatory approval for the facility in mid-2010. EnCana will announce an expected startdate for the development of the project once regulatory approval is received.

 

By Benjamin Silcox and Crystal Roberts

Read the full market research report


Posted: 08 January 2010

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