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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. Like Jackfish 1 & 2, Jackfish 3 represents an estimated 300 million barrels of gross recoverable oil.

Oil-Sands 170
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Shell secures C$865M funding for Canadian CO2 storage project; >1M tonnes/yr from oil sands

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The carbon capture process at the Scotford oil sands upgrader will capture about 35% of emissions. water vessels, the triethylene glycol dehydration unit, and. Quest would be the first application of CCS technology for an oil sands upgrading operation. —John Abbott, Shell’s Executive Vice President of Heavy Oil.

Oil-Sands 186
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Newalta awarded $60M contract to process Syncrude oil sands mature fine tailings

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Newalta Corporation has signed a contract with Syncrude Canada Ltd. The contract is over a three-year period at Syncrude’s oil sands mine operations near Fort McMurray, Alberta. Newalta expects to commence operations for this contract on 1 June 2012 with revenue averaging approximately $20 million per year over three years.

Oil-Sands 199
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Osum Oil Sands closes $500M private placement; new investors include government of Singapore

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Canada-based Osum Oil Sands Corp. The new shareholder group was led by KERN Partners and included Government of Singapore Investment Corporation (GIC) and two large Canadian institutional investors, while existing major shareholders Warburg Pincus LLC and Blackstone Capital Partners participated for a significant portion of the financing.

Oil-Sands 210
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Shell Technology Ventures to invest several $100 millions in emerging tech companies over next 6-8 years

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From smarter exploration processes to enhanced extraction techniques, Shell’s corporate venturing arm Shell Technology Ventures will make investments over the next six to eight years. Their pilot plant in the Middle East taps heat from the sun to generate steam for enhanced oil recovery. In 2012, Shell spent more than US$1.3

Companies 247
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JAPEX, JDC and INPEX jointly support JOGMEC’s medium and long-term offshore production test of methane hydrate

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JDC) and INPEX Corporation (INPEX) have concluded a contract to support Japan Oil, Gas and Metals National Corporation’s (JOGMEC’s) medium and long-term offshore production test of methane hydrate. Japan Petroleum Exploration Co., JAPEX), Japan Drilling Co., Earlier post.). Earlier post.). Earlier post.).

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Statoil makes another high-impact gas discovery offshore Tanzania

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1 Tcf = 180 million barrels of oil equivalent). Since 2012 we have had a 100% success rate in Tanzania and the area has become a core exploration area in a very short period of time. The new gas discovery was made in the same Lower Cretaceous sandstones as the gas discovery in the Zafarani-1 well drilled in 2012.

Tanzania 236