NEB: Oil sands production to reach 3.3 million b/d by 2020

Canadian oil sands production is expected to reach 3.3 million b/d by 2020, up from 2.5 million in November, the National Energy Board said (OGJ Online, Nov. 11, 2015).

In situ production will be responsible for the majority of the increase, but production from mining will also increase.

The November oil sands production number represents 60% of Canada’s total oil production of 4.1 million b/d.

Overall expenditures to build or expand major oil sands projects in 2015 are expected to be $15 billion, down more than 30% from 2014. NEB said cancelled or deferred projects due to low oil prices now total more than 700,000 b/d.

NEB said bitumen extraction by mining uses large mining shovels and trucks to excavate near-surface deposits, while in-situ involves the drilling of wells and “typically uses the application of steam stimulation to recover bitumen from subsurface deposits.”

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


Making DDoS Mitigation Part of Your Incident Response Plan: Critical Steps and Best Practices

Like a new virulent strain of flu, the impact of a distributed denial of service (DDoS) attack is...

The Multi-Tax Challenge of Managing Excise Tax and Sales Tax

To be able to accurately calculate multiple tax types, companies must be prepared to continually ...

Operational Analytics in the Power Industry

Cloud computing, smart grids, and other technologies are changing transmission and distribution. ...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...