Alberta Energy Company Expands Crude Oil Pipeline System in Alberta

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Researched by Industrialinfo.com (Industrial Information Resources, Inc.; Houston, Texas). Alberta Energy Company Limited (AEC) (TSE: AEC) (NYSE: AOG) (Calgary, AB) has initiated an expansion of its Cold Lake crude oil pipeline system with the construction of 235 kilometers of 24 inch steel transmission pipe from the Le Coy area to Hardisty, Alberta. The $127 million pipeline expansion will also include two new 12,000 horse power pump stations with electric motors and a storage expansion at its terminal in Hardisty.

Colt Engineers (Calgary, AB) was awarded the design-build contract and construction commenced June 2001. When completed January 2002, the initial pipeline capacity will be 250,000 barrels per day of crude oil with a further expansion possible.

AEC had net revenues of $605 million in 2000 on an asset base of $7.9 billion. AEC produced over 800,000 barrels per day of crude oil and one billion cubic foot per day of natural gas in the year 2000.