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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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Statoil Canada oil sands SAGD project produces first oil

Green Car Congress

Statoil Canada has produced first oil from its SAGD (steam-assisted gravity drainage) Leismer Demonstration Project (LDP) in the Canadian oil sands after initiating steam injection in September 2010, one month ahead of schedule.

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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. Future development of the oil sands leases will proceed in a stepwise manner.

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Total to Acquire UTS Corporation and Its 20% Interest in Fort Hills Oil Sands Project for C$1.15B

Green Car Congress

a Total subsidiary, has signed an agreement with UTS Energy Corporation (UTS) to acquire UTS Corporation with its main asset, a 20% interest in the Fort Hills oil sands mining project in Alberta, Canada. Phase 1 production began in 2007 and currently averages 20,000 barrels per day. Total E&P Canada Ltd.,

Oil-Sands 186
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China Investment Corp. and Penn West To Form Oils Sands JV

Green Car Congress

Penn West Energy Trust has entered into an agreement with a wholly-owned subsidiary of the China Investment Corporation (CIC) to form a joint venture that will develop Penn West’s bitumen assets located in the Peace River area of northern Alberta. CIC has also agreed to purchase trust units of Penn West on a private placement basis.

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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. Imperial Oil: $10 million for a Cyclic Solvent Process pilot in Cold Lake.

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Suncor targeting 1M barrels per day by 2020, some 80% from oil sands; new strategic alliance with Total

Green Car Congress

Suncor is targeting 1 million barrels per day output in 2020, with its growth in the oil sands underpinned by its alliance with Total. Approximately 80% of that production will be from the oil sands. The agreement with Total is an important element of Suncor’s plans to more than double our oil sands production.

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