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Researched by Industrial Info Resources (Sugar Land, Texas)--As he prepares to wrap up a five-day trip to China, Canadian Natural Resources Minister Jim Carr is telling his hosts that there are plenty of opportunities to invest in the Alberta oil sands, according to Reuters. Canada certainly would be happy to see foreign investment in the sector, given that low prices and hefty drilling costs have pushed many developers away. Industrial Info is tracking more than $12 billion in Oil & Gas Industry projects that are set to begin construction in Alberta in second-half 2017.
Royal Dutch Shell plc (NYSE:RDS.A) (The Hague, Netherlands) and ConocoPhillips (NYSE:COP) (Houston, Texas) are among the big players to divest from the Alberta oil sands, with Shell backing out of the long-delayed, $4 billion Jackpine Oil Sands Mine expansion near Fort McMurray, and ConocoPhillips selling its 50% interest in the Foster Creek/Christina Lake Partnership to Cenovus Energy Incorporated (NYSE:CVE) (Calgary, Alberta), which now fully owns it.
For more information, see Industrial Info's project reports on the Jackpine mine, and the 1G expansion and the 1H expansion at Foster Creek/Christina Lake; May 5, 2017, article - Shell to Spend $25 Billion on Oil & Gas Projects in 2017 after Stronger Prices Boost Profits; May 3, 2017, article - ConocoPhillips Makes Headway on Natural Gas Projects in Texas and Alaska as it Trims Capital Spending; and April 10, 2017, article - Cenovus Closer to Taking Top Spot in Canadian Thermal Production as Deal with ConocoPhillips Progresses.
"We would welcome investment from any nation that's interested in the oil sands," Carr said in a conference call. "The trend of capital flows over the last little while has been [that] international investors have been looking at their opportunities and [have] decided to spread their resources, whereas Canadian investors have stepped up."
CNPC's MacKay River Project Among Most Anticipated Kickoffs
Brion Energy Corporation, which is owned by China National Petroleum Corporation (CNPC), expects to begin oil production later this year from its $1.05 billion, second-phase expansion at MacKay River bitumen-production facility near Fort McMurray. The project involves drilling multiple dual-horizontal well pairs and constructing a central facility to process 40,000 BBL/d of bitumen, using steam-assisted gravity drainage (SAGD) technology. The full, four-phase project is expected to produce 150,000 BBL/d. For more information, see Industrial Info's project report.
CNPC has invested $13 billion in recent years in Canada's oil sands, shale gas and LNG industries, according to Financial Post. Last year, Athabasca Oil Corporation (TSX:ATH) (Calgary) sold its 40% interest in the massive Dover Oil Sands project to Brion. Although development could be as much as seven years away, according to Financial Post.
Dover currently is expected to be built in five phases: a $360 million first phase would involve drilling multiple dual-horizontal well pairs constructing a central bitumen-processing facility with a capacity of 12,000 BBL/d; a $1.5 billion second phase, a $1.05 billion third phase, a $1.2 billion fourth phase and a $1.2 billion fifth phase each would have a capacity of 35,000 BBL/d. All would use SAGD and thermal-assisted gravity drainage (TAGD) technology. For more information, see Industrial Info's project reports on Phase I, Phase II, Phase III, Phase IV and Phase V.
Trans Mountain Pipeline Expansion Still Mired in Controversy
Kinder Morgan Incorporated's (NYSE:KMI) (Houston, Texas) massive Trans Mountain Pipeline Expansion project got a boost earlier this week when the Canadian Parliament voted overwhelmingly to affirm "that the project has social license to proceed, is critical to the economy, is environmentally sound and should proceed as planned," according to Canada's Global News. The expansion will increase the pipeline's crude-oil capacity from 300,000 to 890,000 BBL/d, providing producers in Alberta's oil sands more access to Canada's west coast for export, as well as increased access to the U.S.
Although Prime Minister Justin Trudeau approved the project last fall, skeptics remain vocal. Three First Nations in British Columbia--the Coldwater Indian Band, the Tsleil-Waututh Nation and the Squamish Nation--are citing environmental and health concerns and are taking the project to court, according to Brampton Guardian. Kinder Morgan responds that it has signed Mutual Benefit Agreements with 51 indigenous communities, which bring them more than $400 million from the project. For more information, see May 30, 2017, article - Kinder Morgan Announces Final Investment Decision on Trans Mountain Pipeline Pending IPO Outcome, and November 30, 2016, article - Canadian Prime Minister Rejects Northern Gateway Pipeline, OKs Trans Mountain.
Industrial Info is tracking all major aspects of the Trans Mountain Expansion, including a $3.5 billion segment in British Columbia and a $1.11 billion segment in Alberta. The 690-kilometer British Columbia segment would consist of two spreads: from a point near Hargreaves to the company's Darfield Crude Oil Pump Station near Barriere, and from the Black Pines Pump Station near Kamloops to the Westridge Crude Oil Terminal near Burnaby. The Alberta segment will run about 290 kilometers from the company's terminal in Edmonton to the crude oil pump station in Hinton. For more information, see Industrial Info's project reports on the British Columbia and Alberta segments.
Although the Trans Mountain Expansion currently is slated to kick off before the end of the year, it remains in its permitting phase, where plenty of factors, including opposition from First Nations, could increase, decrease or eliminate the expected spending, or further delay the project.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com/.
Royal Dutch Shell plc (NYSE:RDS.A) (The Hague, Netherlands) and ConocoPhillips (NYSE:COP) (Houston, Texas) are among the big players to divest from the Alberta oil sands, with Shell backing out of the long-delayed, $4 billion Jackpine Oil Sands Mine expansion near Fort McMurray, and ConocoPhillips selling its 50% interest in the Foster Creek/Christina Lake Partnership to Cenovus Energy Incorporated (NYSE:CVE) (Calgary, Alberta), which now fully owns it.
For more information, see Industrial Info's project reports on the Jackpine mine, and the 1G expansion and the 1H expansion at Foster Creek/Christina Lake; May 5, 2017, article - Shell to Spend $25 Billion on Oil & Gas Projects in 2017 after Stronger Prices Boost Profits; May 3, 2017, article - ConocoPhillips Makes Headway on Natural Gas Projects in Texas and Alaska as it Trims Capital Spending; and April 10, 2017, article - Cenovus Closer to Taking Top Spot in Canadian Thermal Production as Deal with ConocoPhillips Progresses.
"We would welcome investment from any nation that's interested in the oil sands," Carr said in a conference call. "The trend of capital flows over the last little while has been [that] international investors have been looking at their opportunities and [have] decided to spread their resources, whereas Canadian investors have stepped up."
CNPC's MacKay River Project Among Most Anticipated Kickoffs
Brion Energy Corporation, which is owned by China National Petroleum Corporation (CNPC), expects to begin oil production later this year from its $1.05 billion, second-phase expansion at MacKay River bitumen-production facility near Fort McMurray. The project involves drilling multiple dual-horizontal well pairs and constructing a central facility to process 40,000 BBL/d of bitumen, using steam-assisted gravity drainage (SAGD) technology. The full, four-phase project is expected to produce 150,000 BBL/d. For more information, see Industrial Info's project report.
CNPC has invested $13 billion in recent years in Canada's oil sands, shale gas and LNG industries, according to Financial Post. Last year, Athabasca Oil Corporation (TSX:ATH) (Calgary) sold its 40% interest in the massive Dover Oil Sands project to Brion. Although development could be as much as seven years away, according to Financial Post.
Dover currently is expected to be built in five phases: a $360 million first phase would involve drilling multiple dual-horizontal well pairs constructing a central bitumen-processing facility with a capacity of 12,000 BBL/d; a $1.5 billion second phase, a $1.05 billion third phase, a $1.2 billion fourth phase and a $1.2 billion fifth phase each would have a capacity of 35,000 BBL/d. All would use SAGD and thermal-assisted gravity drainage (TAGD) technology. For more information, see Industrial Info's project reports on Phase I, Phase II, Phase III, Phase IV and Phase V.
Trans Mountain Pipeline Expansion Still Mired in Controversy
Kinder Morgan Incorporated's (NYSE:KMI) (Houston, Texas) massive Trans Mountain Pipeline Expansion project got a boost earlier this week when the Canadian Parliament voted overwhelmingly to affirm "that the project has social license to proceed, is critical to the economy, is environmentally sound and should proceed as planned," according to Canada's Global News. The expansion will increase the pipeline's crude-oil capacity from 300,000 to 890,000 BBL/d, providing producers in Alberta's oil sands more access to Canada's west coast for export, as well as increased access to the U.S.
Although Prime Minister Justin Trudeau approved the project last fall, skeptics remain vocal. Three First Nations in British Columbia--the Coldwater Indian Band, the Tsleil-Waututh Nation and the Squamish Nation--are citing environmental and health concerns and are taking the project to court, according to Brampton Guardian. Kinder Morgan responds that it has signed Mutual Benefit Agreements with 51 indigenous communities, which bring them more than $400 million from the project. For more information, see May 30, 2017, article - Kinder Morgan Announces Final Investment Decision on Trans Mountain Pipeline Pending IPO Outcome, and November 30, 2016, article - Canadian Prime Minister Rejects Northern Gateway Pipeline, OKs Trans Mountain.
Industrial Info is tracking all major aspects of the Trans Mountain Expansion, including a $3.5 billion segment in British Columbia and a $1.11 billion segment in Alberta. The 690-kilometer British Columbia segment would consist of two spreads: from a point near Hargreaves to the company's Darfield Crude Oil Pump Station near Barriere, and from the Black Pines Pump Station near Kamloops to the Westridge Crude Oil Terminal near Burnaby. The Alberta segment will run about 290 kilometers from the company's terminal in Edmonton to the crude oil pump station in Hinton. For more information, see Industrial Info's project reports on the British Columbia and Alberta segments.
Although the Trans Mountain Expansion currently is slated to kick off before the end of the year, it remains in its permitting phase, where plenty of factors, including opposition from First Nations, could increase, decrease or eliminate the expected spending, or further delay the project.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com/.
