Statoil postpones Corner oil sands project

Statoil has decided to postpone its previously planned Corner field development at the Kai Kos Dehseh oil sands project in Alberta, Canada, for at least three years, and will cut about 70 jobs at its Canadian unit because of rising costs and limited pipeline space.

Corner would have been the second major development at Statoil's Kai Kos Dehseh property in northern Alberta. Statoil noted that the company decided to delay construction of the project because inflation was pushing up the cost of labor and materials, while tightness in pipeline space to the US market was pushing down the price of its oil.

Earlier this year, Statoil divided its oil sands leases with PTTEP, in which Statoil would have 100% ownership of the Leismer and Corner projects, while PTTEP took 100% ownership of the Thornbury, Hangingstone, and South Leismer areas.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...