FEATURE Calgary—A substantial drop in capital costs for Alberta’s oil sands will come in handy for producers to remain competitive this year, although no new major projects will likely be sanctioned at least until 2019/2020 with prices still forecast to remain volatile. Several new in situ and mining projects are due to be completed in 2017, with a combined 500,000 b/d of capacity due by the end of the year, when the last of the two major SAGD and mining projects will be completed. ConocoPhillips will complete work on its Surmont Phase 2 project, with a capacity of over 100,000 b/d, while Suncor and Total will finish their co-owned 194,000 b/d Fort Hills project.
展开▼
