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December 8, 2021

Onion Lake Thermal (International Petroleum Corporation) SK Heavy Oil Field, Canada

By Carmen

Onion Lake Thermal (International Petroleum Corporation) SK is a producing heavy oil field located onshore Canada and is operated by International Petroleum.

Two expansion projects are associated with the Onion Lake Thermal (International Petroleum Corporation) SK heavy oil field, namely Onion Lake Thermal (International Petroleum Corporation) SK – Phase 4 and Onion Lake Thermal (International Petroleum Corporation) SK – Pad D. The expansion projects are currently in the feasibility and commissioning stage, targeting start-up during 2021 – 2025.

Field participation details

The field is owned by International Petroleum.


Production from Onion Lake Thermal (International Petroleum Corporation) SK

The Onion Lake Thermal (International Petroleum Corporation) SK heavy oil field recovered 22.54% of its total recoverable reserves, with peak production expected in 2022. The peak production will approximately 11.5 thousand bpd of crude oil and condensate. Based on economic assumptions, production will continue until the field reaches its economic limit in 2050.


Remaining recoverable reserves

The field is expected to recover 49.77 Mmboe, comprised of 49.77 Mmbbl of crude oil & condensate. Onion Lake Thermal (International Petroleum Corporation) SK heavy oil field reserves accounts 0.11% of total remaining reserves of producing heavy oil fields globally.


About International Petroleum

International Petroleum Corp (IPC) is an upstream energy company, which carries out exploration, development and production of oil and gas. In Canada, it holds interests in Onion Lake project in Saskatchewan; Ferguson Field and Blackrod projects; Ferguson asset and Suffield area assets in Alberta. The company also owns interests in Mooney (EOR), John Lake and Graindale assets in Alberta. The company owns oil and gas assets in France in two areas: the Paris Basin and Aquitaine Basin. IPC also holds licenses Bertam field and Offshore Peninsular assets in Malaysia. At the end of the FY2019, the company owned total net 2P reserves of 300 million barrels of oil equivalent. IPC is headquartered in Vancouver, British Columbia, Canada.

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Methodology

Information on the field is sourced from GlobalData’s fields database that provides detailed information on all producing, announced and planned oil and gas fields globally. Not all companies mentioned in the article may be currently existing due to their merger or acquisition or business closure.

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