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Statoil postponing Corner oil sands project for minimum of 3 years; rising costs, limited pipeline access

Green Car Congress

Statoil will postpone the previously planned Corner field development at the Kai Kos Dehseh (KKD) oil sands project in Alberta, Canada, for a minimum of three years, due in part to rising labor and materials costs and market access issues including limited pipeline access. —Statoil Canada country manager Ståle Tungesvik.

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ACL to begin transporting Canadian crude by inland barge to Gulf Coast for oil sands company MEG Energy

Green Car Congress

American Commercial Lines (ACL) will begin transporting crude oil by barge on the US inland waterways for MEG Energy (US) Inc. MEG Energy), a subsidiary of the Canadian oil sands company MEG Energy Corp. MEG Energy is a Canadian oil sands company focused on in situ development and production.

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Devon Energy obtains approval for third Jackfish oil sands project

Green Car Congress

US-based Devon Energy Corporation has received regulatory approval from the Alberta Energy Resources Conservation Board and Alberta Environment and Water to move forward with the company’s third oil sands project in Canada. Devon expects to deploy approximately $1.3 billion of capital on Jackfish 3 through startup.

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Sustainable Development Canada Awards C$6M to Project to Reduce Water and Energy Consumption for Oil Sands Processing; Three Other Projects Supported to Reduce Energy and Environmental Impact of Oil Sands

Green Car Congress

SOLVE adds a solvent to the steam in SAGD (basic operation depicted above) to reduce energy input and water consumption. The production well extracts the bitumen to surface heavy oil production facilities. SAGD is the predominant in-situ recovery method currently used in Canada’s oil sands. Source: StatoilHydro.

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Alberta CCEMC providing $46M for carbon capture and storage and cleaner energy projects in oil sands region

Green Car Congress

Alberta, Canada’s Climate Change and Emissions Management (CCEMC) Corporation is providing C$46 million (US$45 million) in funding to support six new carbon capture and storage and cleaner technology projects in the Canadian oil sands region. The organizations receiving funding from CCEMC are: Cenovus Energy Inc.: $10

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Thailand enters the Canadian oil sands; Statoil selling 40% interest to PTTEP for US$2.28B

Green Car Congress

Statoil has agreed to sell a 40% interest in its oil sands project in Alberta, Canada (Kai Kos Dehseh) to PTT Exploration and Production (PTTEP) of Thailand. The effective date of the transaction is 1 January, 2011. Future development of the oil sands leases will proceed in a stepwise manner.

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MEG Energy moving ahead with 35,000 barrels per day oil sands expansion; $1.4B estimated total cost

Green Car Congress

Canada-based MEG Energy’s board of directors has approved 2011 capital investment of approximately $900 million and the final cost estimate for the 35,000 barrels per day Phase 2B oil sands expansion at the Christina Lake in-situ project. The 2011 budget includes $80 to $90 million for core drilling and seismic.

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