IHS Markit makes 10-year forecast for Canadian oilsands production
IHS Markit expects average y/y supply additions to be below 100 000 bpd in the coming decade.
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IHS Markit expects average y/y supply additions to be below 100 000 bpd in the coming decade.
The assets include the 108 000 bpd Jackfish oilsands project, which comprises about 88% of the valuation.
Canadian Oil Sands production in 2019 will be almost 230 000 bpd lower than last year, according to ESAI Energy’s recently published North America Watch.
The report says that planned Canadian oil sands projects are being pushed back in response to further delays in pipeline egress and the mandated output cuts by the Alberta provincial government.
However, chronic midstream infrastructure bottlenecks and low price environment can limit the progress of the oil and gas industry, says GlobalData.
Canada’s existing oil pipeline and railway capacity is enough to support oil sands current exports but with little extra room for logistic constraints.
The well will now be plugged and abandoned, and the rig will move to the site of the next drilling location on the South Disouq licence, the SD-4X appraisal well.
Mitsubishi Hitachi Power Systems (MHPS) announced that Suncor Energy has issued a Letter of Intent to purchase MHPS JAC gas turbine technology.
Add Energy has recently secured work with three operators in the North Sea for the provision of Environmental Management and Reporting Software (NEMS Accounter).
Statoil and partners have made an oil discovery in the Verbier sidetrack well in the outer Moray Firth on the UK Continental Shelf.
Royal Dutch Shell plc has announced the completion of two previously announced agreements that will see Shell sell all its in-situ and undeveloped oil sands interests in Canada and reduce its share in the Athabasca Oil Sands Project (AOSP) from 60% to 10%.
West Ells Phase II is an expansion of the Phase I project with an additional production capacity of 5000 bpd.