Syn­crude pro­duc­tion could ramp up to 425,000 bar­rels of crude per day by 2020

Cape Breton Post - - BUSINESS - BY LAUREN KRUGEL

with less project ex­e­cu­tion risk and bet­ter eco­nomics than con­struct­ing green­field up­grad­ing fa­cil­i­ties,” said Cana­dian Oil Sands chief ex­ec­u­tive Marcel Coutu.

The plans out­lined Wed­nes­day ex­ceed ear­lier ex­pec­ta­tions that Syn­crude could ex­pand crude pro­duc­tion to 400,000 bar­rels per day.

The ex­panded up­grader would han­dle bi­tu­men from Syn­crude’s yet-to-be-de­vel­oped Aurora South mine. Construction on a first min­ing train is set to be­gin in 2012, with pro­duc­tion ex­pected by the end of 2016.

A sec­ond min­ing train will bring to­tal bi­tu­men pro­duc­tion at Syn­crude to 600,000 bar­rels per day by the end of the decade.

“I be­lieve that, given the size of Syn­crude’s re­source base, we still have the abil­ity to grow be­yond this ex­panded 600,000 bar­rel per day pro­duc­tive ca­pac­ity level,” said Coutu.

The ex­pan­sions will leave Syn­crude with more bi­tu­men than it is able to up­grade into syn­thetic crude, so the plan is to sell the ex­tra raw prod­uct on the open mar­ket.

Newspapers in English

Newspapers from Canada

© PressReader. All rights reserved.