Firms Set To Boost Oilsands Output

Total E&P Canada aims to have more than 1,500 employees producing 250,000 barrels per day in about 2015 by spending $10 billion to $15 billion on new mines and an Edmonton-area upgrader, company president Michael Borrell said. StatoilHydro Canada Ltd. plans to hit 200,000 barrels of bitumen a day, made into premium synthetic oil at a five-square-kilometre Fort Saskatchewan upgrader by 2020, Norwegian chief executive officer Geir Jossang told an oilsands conference held by Insight Information. Construction has begun in Detroit on a $1.9-billion refinery conversion to bitumen, Marathon vice-president Gary Heminger said. The firm plans to more than quadruple production acquired in a $6.2-billion takeover of Western Oil Sands last year by 2020 to 130,000 barrels daily from a current 31,000 barrels daily, he added. Alberta's oilsands are still among the world's most expensive supply sources but cost increases have not been out of step with international trends, Borrell said in an interview. Total expects the Energy Resources Conservation Board to call public hearings on the oil firm's plans for the first half of this year, and is seeking approval in time for a final decision on construction in 2009, he said. Project costs and schedules will be reviewed as detailed engineering is completed and regulatory approvals are received, the French and Norwegian companies said. ... http://www.canada.com/calgaryherald/news/story.html?id=a349e24f-f146-459e-91e3-18ad118f3bc1

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