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In recent years technological breakthroughs have overcome the economical and technical difficulties of producing the oil sands, and by 2007 64% of Alberta's petroleum production of 1.86 million barrels per day (296,000 m 3 /d) was from oil sands rather than conventional oil fields. The ERCB estimates that by 2017 oil sands production will make ...
English: Plot of Canadian oil production from 1950 to 2014 and estimate up to 2030 generated using Excel using data from the Canadian National Energy Board (NEB) and the Canadian Association of Petroleum Producers (CAPP).
At a depth of 4.26 metres (14.0 ft) [6] he struck oil, one year before "Colonel" Edwin Drake drilled the first oil well in the United States. [7] Williams later went on to found "The Canadian Oil Company" which qualified as the world’s first integrated oil company.
Different estimates may or may not include oil shale, mined oil sands or natural gas liquids. Because proven reserves include oil recoverable under current economic conditions, nations may see large increases in proven reserves when known, but previously uneconomic deposits become economic to develop.
This would mean that Canadian oil sands production would grow from 1.2 million barrels per day (190,000 m 3 /d) in 2008 to 3.3 million barrels per day (520,000 m 3 /d) in 2020, and that total Canadian oil production would grow from 2.7 to 4.1 million barrels per day (430,000 to 650,000 m 3 /d) in 2020. [45]
(Reuters) -Canadian Natural Resources said on Thursday it expects production to increase 12% and capital spending to rise 13.5% in 2025, as it bets on higher demand amid tight oil supplies.
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In 1962 (the same year the Great Canadian Oil Sands proposal went up for approval) Cities Service Athabasca Inc. proposed a 16,000 cubic metre per day plant at the site of its Mildred Lake pilot project. Including a pipeline to Edmonton, the plant was to cost $56 million, with construction beginning in 1965 and completion in 1968.
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