logo
Share SHARE
FONT-SIZE Plus   Neg

Imperial, ExxonMobil Announces Production Startup At Kearl Oil Sands Project

Exxon Mobil Corp. (XOM) and Imperial Oil Ltd. (IMO.TO) announced the start-up of the initial development of the Kearl oil sands project, located about 75 kilometres northeast of Fort McMurray, Alberta. The project's long-term production will access 4.6 billion barrels of resource over 40 years.

The Kearl Oil Sands Project is jointly owned between Imperial Oil as operator with 71 percent and ExxonMobil Canada with 29 percent.

Imperial Oil stated that production of mined diluted bitumen from the first of three froth treatment trains has commenced, with start-up of two additional bitumen froth trains to proceed in sequence as planned, bringing production from the initial development to an expected 110,000 barrels per day later in 2013.

In addition, an expansion phase at Kearl will add another 110,000 barrels per day by late 2015 and future debottlenecking will increase output to reach the regulatory capacity of 345,000 barrels per day by about 2020.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Cable-cutters have now one more reason to do so as live television streaming will be available on YouTube TV in 14 more markets in the U.S. Facebook Chief Operating Officer Sheryl Sandberg has donated nearly $100 million in Facebook shares to charity. This is her second charitable donation within a year. A document was filed on Thursday with the Security and Exchange Commission, which shows that Sandberg transferred shares to a special fund she uses for charitable donations. Ford Motor Co.'s new CEO Jim Hackett has taken a more cautious approach to the automaker's plans for rolling out autonomous vehicles. Ford is currently undertaking a 100-day review of its operations and Hackett indicated at delays to the company's plans to launch a fully-autonomous vehicle by 2021.
comments powered by Disqus
Follow RTT