Oil sands production to reach 3.3 million b/d by 2020 …NEB

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OilandPower South-Sudan  2020

The National Energy Board has said that Canadian oil sands production is expected to reach 3.3 million b/d by 2020, up from 2.5 million in November.

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In situ production will be responsible for the majority of the increase, but production from mining will also increase.

The November oil sands production number represents 60% of Canada’s total oil production of 4.1 million b/d.

Overall expenditures to build or expand major oil sands projects in 2015 are expected to be $15 billion, down more than 30% from 2014. NEB said cancelled or deferred projects due to low oil prices now total more than 700,000 b/d.

NEB said bitumen extraction by mining uses large mining shovels and trucks to excavate near-surface deposits, while in-situ involves the drilling of wells and “typically uses the application of steam stimulation to recover bitumen from subsurface deposits.”

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