Posted on 05/08/2008 5:47:27 PM PDT by snowsislander
CALGARY - Ten years after establishing an in-situ oilsands demonstration plant, Japan Canada Oil Sands Ltd. (Jacos) signalled today it is ready for commercial production.
Prompted by surging oil prices and results from a seismic and delineation program over the last two winters, the company said it will increase production at its Hangingstone project by 2014 by up to 35,000 barrels per day over the current 8,000 bpd.
"Today's oil price encourages us to look at oilsands development," said executive vice-president Yukio Kishigami, adding more assessment is planned for next winter.
Jacos is the operator of the project, which it owns with 25 per cent partner Nexen Inc.
Jacos holds the rights to leases covering approximately 46,000 net hectares in the Athabasca region for future development.
The companies will seek regulatory approval in 2010 pending completion of further engineering work and an environmental impact assessment. Commissioning and start-up of the facilities is expected in the third and fourth quarters of 2014.
Any private co. that wants to drill on “public” property should be allowed to.
Production is down a half due to government regulations and wacko, anti-American environmentalist.
http://www.wtrg.com/rotaryrigs.html
Yes, it is disappointing how much we hobble our own production.
I wish the envirowhackos would at least relent on the issue of offshore production in the eastern Gulf of Mexico --- it clearly has a strong benefit for ocean life as we can in the areas of the Gulf that have been developed, and the resilience of the industry in the face of such powerful hurricanes as we saw a few years ago should alleviate the fears of any reasonable human being.
The liberals will make sure there is an endangered species introduced to the area to halt production.
“The liberals will make sure there is an endangered species introduced to the area to halt production.”
Does it really matter? 35,000 bpd is squat relative to the daily demand. But crank the production up until it’s 60 times that........2 million and change bpd, and you’ll begin to at least make a dent in the imports from the ragheads and the nut job in Venezuela.
I wasn't aware that Canada had introduced such legislation, but in light of your post about it I did some internet searching, and indeed the Canadians did so back in 2002 with the "Species At Risk Act", also known as "SARA". (The text of the legislation can be found here.)
I certainly hope that the envirowhackos don't attack this program also, but their history certainly suggests that they might well try to find a "Piping Plover" or a "Ferruginous Hawk" to putatively protect.
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