Alberta approves new oilsands project
The Alberta oilsands has a new kid in town.
Calgary Herald reports that Grizzly Oil Sands, a privately-owned company, has been approved for an 11,300 barrel-per-day, in-situ oilsands project southwest of Fort McMurrray:
Cabinet approval for the project was given this week after approval was sought last year but chief executive John Pearce said the process of engineering and ordering equipment is already well underway.
The company expects first production by early 2013, and to grow production at its other property to 60,000 bopd by 2020 reports The Herald.