The Calgary Herald’s Lisa Schmidt today reports that 2007 was a big year for oilsands producers and that 2008 and beyond will be even busier.
Canadian oil production rose nearly eight per cent to 2.8 million barrels a day in 2007, preliminary estimates from the National Energy Board show.
Much of that growth was in Alberta’s northern oilsands, where production is expected to triple over the next decade with the first of several new projects or expansions firing up in 2008.
…two new oilsands projects will start up in 2008, accounting for about half of the expected production increase in 2008. Canadian Natural Resources Ltd.'s Horizon mine is slated to produce about 110,000 barrels a day, while the first phase of Long Lake, a joint venture Nexen Inc. and OPTI Canada Inc., will produce about 58,000 barrels a day.
Also coming on stream is significant expansion by Suncor Energy Inc., Canada's second largest oilsands producer, including the addition of its Millennium coker as well as initial phases of its Firebag in situ project.
Other oilsands developers such as EnCana Corp., Devon Canada and ConocoPhillips are also slated to start or add production this year.