Suncor Energy’s Update

The Alberta Energy Resources Conservation Board has approved Suncor Energy’s application to develop three additional stages of its Firebag in situ oil sands project.

The press release is quoted as saying:

Cost estimates for stages four to six are expected to be detailed as each stage receives final approval from Suncor’s Board of Directors. Preliminary work is currently underway on Firebag stage four, with production targeted in late 2012. The planned facilities will employ steam assisted gravity drainage (SAGD) technology, a thermal recovery process that allows development of deeper oil sands deposits while limiting surface land disturbance. Approved facilities include well pads, water treatment facilities and co-generation plants that produce steam while also generating electricity.

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