Canadian oil sands: a heavy hitter

摘要

Production from Canadian oil sands is expected to reach 1 million b/d in 2003 and 1.8 million bid by 2010. Production of synthetic crude (mined bitumen that has been upgraded soft can flow through pipes) is forecasted to surpass both conventional light oil and in-situ heavy oil production for the first time in history. Known recoverable oil sand volumes in Alberta total 315 billion bbl - more than Saudi Arabia's total reserves. Companies and consortia are planning to invest about USD50 billion in the next decade on new projects and expansions in the Fort McMurray area.