Imperial Oil's Long-Planned Kearl Oil Sands Mine in Alberta Now Producing

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Researched by Industrial Info Resources (Sugar Land, Texas)--Imperial Oil Limited (TSX:IMO) (Calgary, Alberta) indicated that production has started at the company's Kearl Oil Sands Mine, which is located 40 kilometers northeast of Fort McKay, Alberta. The mine is utilizing Imperial Oil's proprietary paraffinic froth treatment technology which allows the company to bypass the need for an on-site upgrader. The mine will produce about 110,000 barrels per day by the end of the year.

Industrial Info first began tracking the project while it was in project scoping in February 1999. Since that time, the cost of the project has escalated from $2 billion to $12.8 billion.

A second phase expansion is approximately 30% complete. The $8.9 billion second phase is scheduled for completion in 2015. Subsequent expansions could boost production up to 345,000 barrels per day.

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