New Underground Crude Oil Storage Capacity Planned for Alberta

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Researched by Industrialinfo.com (Industrial Information Resources, Incorporated; Houston, Texas). Enbridge Incorporated (Calgary, Alberta) (NYSE:ENB) and CCS Energy Services (Calgary, Alberta) have teamed up to construct a new three crude oil storage facility near Hardisty, Alberta in Canada. The facility will utilize four existing salt dome caverns ranging in size from 600,000 to 900,000 barrels.

Two additional above ground storage tanks with a capacity of 250,000 barrels each will be constructed along with a 1,500 meter to interconnect with the Enbridge mainline. All in all storage capacity will be three million barrels. Up to ten 1,000-2,000 horsepower pump units will be installed to provide an injection & withdrawal rate of 75,000 barrels per day.

The partners awarded Upside Engineering Limited (Calgary) the engineering contract for the project. Limited site preparation on the $32 million project has begun, with the main construction to begin in May of 2003. In-service date should be November of 2003.

Once in service the facility will act as a buffer storage terminal, and crude oil will eventually be shipped to Enbridge's Hardisty terminal and from there most will find its way to US markets.

CCS Energy Services is a subsidiary of CCS Income Trust (Calgary, Alberta) (TSX:CCR.UN) and provides oil field services covering waste treatment, recovery & disposal, well completions, workovers and drilling fluid technology and drilling services.

Enbridge Incorporated operates the world's longest crude oil & liquids pipeline system stretching over 9,000 miles with a 2 million barrel per day capacity. Enbridge employs over 4,000 people working in the crude oil transportation & storage areas as well as natural gas field services & transmission.

IIR has been tracking the progress of the Hardisty Crude Oil Project since June of 2002.