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Shell Canada Updates Long Tem Oil Sands Growth Plans 2007
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Shell Canada updated its long term oil sands growth plans to increase minable bitumen production to approximately 770,000 barrels a day, while increasing upgrading capacity to approximately 700,000 barrels a day.
In April 2005 Shell Canada announced its "building block" strategy designed to increase minable bitumen production and upgrading capacity through a series of expansion projects. Shell Canada's first 100,000-barrel-a-day expansion, AOSP Expansion 1, was approved in November 2006 with full start-up expected in 2010.
Beyond AOSP Expansion 1, Shell Canada plans additional oil sands expansions that could potentially increase minable bitumen production to approximately 770,000 barrels a day. In addition to existing regulatory approvals and expansion plans, Shell Canada's growth strategy includes Jackpine Mine Expansion and an additional mine, called Pierre River Mine, on the west side of the Athabasca River.
Bitumen upgrading capacity could also potentially be increased to about 700,000 barrels a day through a series of Shell Canada-owned upgrader projects in the Fort Saskatchewan area, east of Edmonton. New upgrading facilities would process Shell Canada's share of future Athabasca minable bitumen production as well as bitumen from the company's in situ oil sands developments. As previously announced, heavy oil upgrading and refining options in Ontario are also being considered.
Shell Canada holds a 60 per cent interest in the Athabasca Oil Sands Project (AOSP), a joint venture with Chevron Canada Limited (20 per cent) and Western Oil Sands L.P. (20 per cent). The AOSP consists of the Muskeg River Mine located north of Fort McMurray in northern Alberta, and the Scotford Upgrader near Edmonton, Alberta. Shell Canada also has in situ bitumen operations near Peace River and Cold Lake in Alberta.
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econmod
Broker
/ Moderator
Jan 27, 2007, 11:20 PM
Post #1 of 1
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