Developing energy projects
In May 2009, we announced full funding of the first phase of the Kearl oil sands project. The initial development is expected to produce 110,000 barrels of bitumen a day at start-up in 2012. Eventually, following further efficiencies and expansion, the project could produce up to over 345,000 barrels a day for several decades. This means that when fully developed, Kearl could produce about one in every eight barrels of oil in Canada based on today's production levels.
The project will use proven technologies such as truck-and-shovel mining and hydro transport, as well as new ones such as high temperature paraffinic froth treatment - a technology developed by the company that produces a higher quality, marketable bitumen product. The project also includes a strong emphasis on advanced technology to minimize impacts on the environment.