The Alberta Government has approved three new thermal oil sands projects that jointly represent about C$4bn ($3bn) of potential investment in the Canadian province.
The proposals have been approved for Blackpearl Resources’ Blackrod oil sands steam-assisted gravity drainage (SAGD) development, Surmont Energy’s Wildwood oil sands SAGD development and Husky Saleski oil sands development.
These projects make about 95,000 barrels per day (bpd) of production.
The proposed developments will also fall under the new oil sands 100 megatonne greenhouse gas emissions limit, which was announced with Alberta’s climate leadership plan.
Alberta minister of energy Margaret McCuaig-Boyd said: “Our government supports a growing and sustainable energy sector.
“Along with new pipelines, regulatory certainty is crucial to continued investment into our economy and I am proud to say we are advancing this certainty.”
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By GlobalDataPrior to approving these proposals, the Alberta Energy Regulator carried out reviews including multiple environmental assessments and also consulted with local indigenous, as well as non-indigenous communities on the commercial projects.
The companies will now work with the regulator on specific licences and approvals, and are required to comply with all environmental legislation, targets and thresholds.
Blackpearl’s 80,000bpd Blackrod oil sands project is located approximately 200km southwest of Fort McMurray.
Surmont’s 100%-owned, 12,000bpd Wildwood oil sands project is located about 65km south of Fort McMurray and will use the SAGD method to recover bitumen.
Husky Saleski project is located 100km to the west of Fort McMurray.
