New oil sands project approved for northern Alberta
Wellheads poke from the ground at one of Cenovus Energy's steam-assisted gravity drainage (SAGD) multi-well pads at the company's Foster Creek, Alta. operation, in this handout photo released on April 15, 2011. (The Canadian Press/HO)
EDMONTON -- The province is pushing ahead with more oil development. The Grizzly Oil Sands’ May River oil sands project has been approved.
The project will be located northwest of Conklin, between Fort McMurray and Lac La Biche, and produce about 12,000 barrels of bitumen per day.
The proposal is to use a steam-assisted gravity drainage technology, which the government says reduces the environmental impact.
“This project is in the best interest of Alberta, and is another example of how we are responsibly developing our resources. Moving these projects forward shows that Alberta is open for business, and we are dedicated to encouraging investment in our province,” said Energy Minister Sonya Savage in a written release.
Grizzly can now start applying for environmental licences and development permits.