Oil sands to double output by 2025
Carrie Tait , Financial Post
Wednesday, Jun. 9, 2010
CALGARY -- Canada will produce more than twice the amount of crude derived from oil sands by 2025 compared with what experts predict the bitumen-rich zones will churn out in 2010.
The Canadian Association of Petroleum Producers expects the oil sands to produce 1.5 million barrels of oil per day this year, and 3.5 million barrels per day by 2025. Its estimate considers current and planned projects, based on a survey of oil sands operators.
Further, by 2016, in-situ bitumen extraction methods — in which the oil is largely recovered using drilling techniques — will exceed strip-mining operations, CAPP said today in its annual crude, markets and pipelines forecast.
Oil sands production growth is expected to be the main driver behind Canada’s rising crude production. In 2010, the country will churn out 2.8 million barrels of oil per day, with 1.5 million barrels per day coming from the oil sands; in 2015, total production is expected to climb to 3.3 million barrels per day, with the oil sands contributing 2.2 million barrels; while 2020 will bring 3.9 million barrels per day, with 2.9 million barrels coming from northern Alberta; and in 2025, CAPP predicts Canada will spit out 4.3 million barrels of oil per day, with the oil sands making up 3.5 million barrels.
