Proposed Project
The Kearl oil sands project is a potential oil sands mining, pipeline and upgrading project in Alberta, proposed by Imperial Oil Resources Ventures Limited (Imperial Oil) and ExxonMobil Canada Properties (ExxonMobil Canada ). Imperial Oil Resources, as designated operator, received approval with conditions from the Alberta Energy and Utilities Board (AEUB) and the Federal Government in 2007, after a joint panel hearing at the end of 2006.
Project Details
Estimated Production
The proposed development will be an open-pit mining operation. Expected eventual production, based on a phased development scenario, could average about 300,000 barrels of bitumen a day, with variations above and below this volume. This will likely involve an initial mine development as early as 2010 with design capacity of about 100,000 barrels a day, with two additional phases in 2012 and 2018. Maximum production could be up to 345,000 barrels a day.
Estimated Resources
Based on evaluation drilling carried out to date, total recoverable bitumen before royalties is estimated to be 4.6 billion barrels using current government guidelines.
Estimated Cost
The initial cost estimate for the mine development was estimated to fall in the $5-8 billion (2005 $) range back in 2004. Work is being done to refine this preliminary cost estimate and fully understand the impact of high industry activity on this estimate.
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