Imperial Oil planning new oilsands project in Cold lake area
The company is seeking approval from the Alberta Energy Regulator; construction could start by 2019
CALGARY—Imperial Oil is seeking approval for a new oilsands project on its Cold Lake lease area in northern Alberta.
It would use an extraction method that requires less energy and water than conventional steam-assisted extraction.
Imperial says the technology has been used at its current Cold Lake operation since 2010.
Construction could start as early as 2019, assuming Imperial gets timely regulatory approvals.
The Calgary-based company says it has filed its application with the Alberta Energy Regulator.
If developed, the new oilsands project would produce about 50,000 barrels per day of bitumen starting in about 2022.
Imperial says the Cold Lake expansion is one of the oilsands opportunities that it’s considering.