Proposals on three new oil sands developments that would be stationed around Fort McMurray are being approved by the Government of Alberta.
The first being the Blackpearl Resources Inc. Blackrod oil sands steam-assisted gravity drainage SAGD development which will be 200 km southwest of Fort McMurray.
You also have the Surmont Energy Ltd. Wildwood oil sands SAGD development which will be located 65 km south of Fort McMurray and the Husky Saleski oil sands development which will be stationed 100 km west.
These projects combined are expected to add $4 billion of potential investment into the province’s economy while sending out around 95,000 barrels of oil each day.
These developments would fall under the new oil sands 100 megatonnes greenhouse gas emissions limit with the combined proposals equal to about 2.5 megatonnes of GHG emissions.
“The emissions limit is the first of its kind set by an energy-producing jurisdiction. It positions Alberta as an environmental leader while allowing room for development. The limit was developed with industry leaders and we know they can rise to the challenge to innovate and work within the limit,” said Shannon Phillips, Minister of Environment and Parks.
The limit is in place to encourage lower carbon production, make more efficient projects and cost-effective emissions reduction strategies.
These proposals are being reviewed by the Alberta Energy Regulator and they’re sending a recommendation to the government to approve each of them.
Stakeholders, local Indigenous and non-Indigenous communities around these project areas were consulted.
The next step is working with the regulator on approvals and specific licenses that need to comply with all environmental legislation, targets and thresholds.
“Our government supports a growing and sustainable energy sector. Along with new pipelines, regulatory certainty is crucial to continued investment into our economy and I am proud to say we are advancing this certainty,” said Margaret McCuaig-Boyd, Minister of Energy.