According to the Canadian Association of Petroleum Producers (CAPP), Canada's oilsands have solid prospects for long term growth, with production likely to rise by more 1.00MM b/d over the next 15 years, from 2.40MM b/d last year to 3.67MM b/d in 2030. Over the same period, total Canadian oil production—including shale production in Western Canada and offshore developments in the Atlantic—is expected to rise to over 5.00MM b/d.
The majority of production growth is expected to consist of in-situ operations—in which bitumen is extracted from the sand while still in place underground—rather than surface mining projects, which involve carting the sand in trucks to a processing facility. In general, mining operations are less efficient—in terms of both emissions and costs—than in-situ projects. (July 24)
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