Imperial Oil begins production at Kearl oil sands as expansion completed early – Mining.com
June 16, 2015
Canada’s Imperial Oil (TSX:IMO) said Tuesday it has begun production at its US$7.3 billion Kearl oil sands expansion project in Alberta, ahead of schedule, and with production anticipated to reach 110,000 barrels per day.
The company, 70%-owned by Exxon Mobil Corp. (NYSE:XOM), said the extra output would bring its total production to 220,000 barrels per day.
The expansion project consists of three additional trains that use proprietary paraffinic froth treatment technology to produce bitumen. The process reduces energy requirements and environmental impacts by not requiring an on-site upgrader, which avoided a multi-billion dollar capital investment and associated operating expenses.
Energy needs are further reduced through the installation of energy-saving cogeneration facilities, the company added.
