Alberta: Faster Development of Oilsands Unlikely

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Nando Times

CALGARY, Alberta (April 9, 2001 7:09 p.m. EDT) - Faster expansion of the country's oilsands development is unlikely because of workforce and infrastructure limitations, insiders said Monday....

Chretien bragged to a gathering of oil executives in Calgary last Friday that $50 billion in mega-projects over the next 10 years would make Alberta a larger oil producer than Nigeria....

After four years of planning and construction, Suncor's $2.8-billion Millennium project is expected to start producing later this year.

Shell Canada's Athabasca Oil Sands project - which includes a new mine, an upgrader and a pipeline down to Edmonton - will cost more than $5-billion and start producing late in 2002....

Husky Energy Inc. announced in February that it will spend $5.25 billion for three new projects over the next decade. Imperial Oil Ltd., which owns the Esso service stations across Canada, plans to drop $1 billion for a heavy oil expansion at Cold Lake in northern Alberta.

-- Rachel Gibson (rgibson@hotmail.com), April 10, 2001


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