Imperial Oil sanctions $2B Cold Lake expansion
Imperial Oil Limited has approved a $2 billion expansion of the company’s Cold Lake operation in northeastern Alberta.
CALGARY: Imperial Oil Ltd. has approved a $2 billion expansion of the company’s Cold Lake operation in northeastern Alberta.
The Calgary-based petroleum company said the Nabiye expansion will add bitumen production of more than 40,000 barrels per day at Cold Lake. The project will access 280 million barrels of recoverable reserves and is to start-up by year-end 2014.
The expansion will include development of a new steam generation and bitumen-processing plant, field production pads and associated facilities.
Imperial received regulatory approvals for Nabiye in 2004 and amended regulatory approvals were obtained in 2010 to improve the project’s environmental performance.
Improvements include a 170-megawatt cogeneration facility to enhance the plant’s energy efficiency and a reduced land footprint for field production pads.
The company describes the Cold Lake facility as the largest and longest-running in situ oil sands operation in Canada that includes four steam generation and bitumen production plants. The operation produced an average of 160,000 barrels of bitumen per day in 2011.