Approved oilsands plan now awaits tube ability increases: developer
The developer of a 12,000-barrel-per-day thermal oilsands plan authorized Thursday by a Alberta supervision says indeed going forward with construction depends mostly on when new pipelines can be in service.
President Serge Bisson of secretly hold Grizzly Oil Sands ULC says a association will now accommodate with a owners, Wexford Capital LP with 75 per cent and Gulfport Energy Corp. with 25 per cent, to plead how to ensue with a May River project, that is estimated to cost some-more than $200 million to build.
He says he’s speedy by a rite hold this week nearby Edmonton to symbol a start of tube construction for a Trans Mountain tube expansion.
Bisson says a capitulation has been a “long time in a making,” observant an focus was filed 6 years ago with a Alberta Energy Regulator and a plan was deemed finish about 4 years ago.
On a website, Grizzly says a May River skill was purchased in 2012 for $225 million and a regulatory focus filed in Dec 2013.
In a news release, Alberta Energy Minister Sonya Savage says a capitulation shows a range is “open for business.”
The United Conservative supervision recently authorized a 260,000-barrel-per-day, $20.6-billion Frontier oilsands cave due by Teck Resources Ltd. It also requires sovereign approvals to proceed.
Article source: https://www.cbc.ca/news/canada/calgary/approved-oilsands-project-awaits-pipeline-capacity-increases-1.5385791?cmp=rss