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Oil Sands Industry in Canada - Market Analysis, Competitive Landscape and Production Forecasts to 2020 - Product Image

Oil Sands Industry in Canada - Market Analysis, Competitive Landscape and Production Forecasts to 2020

  • ID: 2323142
  • November 2012
  • Region: Canada
  • 76 pages
  • GlobalData

Oil Sands Industry in Canada - Market Analysis, Competitive Landscape and Production Forecasts to 2020

Summary

“Oil Sands Industry in Canada - Market Analysis, Competitive Landscape and Production Forecasts to 2020” is the latest report from GlobalData, the industry analysis specialist. The report provides an overview of the oil sands industry in Canada and analyses some of the major drivers and challenges, project economics of oil sands projects, historic and projected bitumen and synthetic crude production, some of the major existing and planned oil sands projects, financial deal activity, and the competitive landscape in the industry.

The report has been compiled using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis by Our team of industry experts.

Canada is one of the largest countries in the world in terms of proved oil reserves and was ranked third in the world in terms of proved oil reserves at the end of 2011. It had 175.2 billion barrels (bbl) of proved oil reserves at the end of 2011, of which 169.2 billion bbl of reserves were available as oil sands. This is expected to READ MORE >

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1
1

1.1 List of Tables
1.2 List of Figures
2 Introduction
2.1 Overview
2.2 GlobalData Report Guidance
3 Oil Sands in Canada - An Introduction
3.1 Canada has the Third Largest Proved Oil Reserves in the World
3.2 Bitumen is Recovered from Oil Sands Primarily through Mining and Drilling (In situ) Methods
3.3 Canadian Oil Sands are Important for World and US Energy Security
3.4 Energy Resources Conservation Board is a Key Regulator of the Oil Sands Industry in Alberta, Canada
4 Oil Sands in Canada - Drivers and Challenges
4.1 Increasing Global Oil Demand is Driving the Development of Oil Sands in Canada
4.2 Oil Sands Industry Continues to Attract Foreign Investment due to Favorable Business Climate in Canada
4.3 High Crude Oil Prices will ensure the Growth of Oil Sands Industry in Canada
4.4 Technological Developments are Helping to Increase Oil Recovery and Reduce Environmental Impact of the Oil Sands Developments
4.5 Key Oil Sands Players Form Canada’s Oil Sands Innovation Alliance to Improve Environmental Performance of the Canadian Oil Sands
4.6 Oil Sands Industry Continues to Attract Criticism due to High Water Use and Greenhouse Gas Emissions
4.7 EU has Proposed Labeling Crude Oil Produced from the Canadian Oil Sands as High Carbon Intensity Fuel
4.8 Canadian Oil Sands Industry is Expected to Face Skilled Labor Shortages in the Future
5 Oil Sands in Canada - Project Economics
5.1 Cost of Production in Oil Sands Projects Depends on the Process used to Recover Bitumen
5.2 Canada’s Oil Sand Projects Witnessed Capital and Operating Expenditures of CAD$22.7 Billion and CAD$18.2 Billion in 2011
5.2.1 Crude Oil Prices Determine the Capital Expenditure of New Oil Sands Projects in Canada
5.3 Canada’s Oil Sands Projects Using In Situ Technology Attracted a Capital Expenditure of CAD$11.9 Billion in 2011
5.4 Capital and Operating Expenditures of Canadian Oil Sand Projects for Upgraders in 2011 were CAD$2.4 Billion and CAD$5.35 Billion
5.5 Geological Factors Influence Cost of Operations of the Canadian Oil Sands Projects
5.5.1 Canadian Oil Sands’ Geology Affects the Cost of the Crude Oil Production
6 Oil Sands in Canada - Historic Production and Major Oil Sands Projects
6.1 Oil Sands Industry in Canada Produced 581.9 MMbbl of Bitumen and Synthetic Crude in 2011
6.1.1 Athabasca Region Recorded the Largest Bitumen Production from Oil Sands in Canada for 2011
6.1.2 Mining Produced Approximately 52.1% of Bitumen and Synthetic Crude from Oil Sands in Canada in 2011
6.1.3 Heavy Oil Upgraders in the Canadian Oil Sands Industry Recorded a Capacity of 453.1 MMbbl for 2011
6.2 Syncrude is the Largest Heavy Oil Upgrader Project in Canada as of 2011
6.3 Base Operations (Steepbank/Millennium) Oil Sands Project Produced 105.1 MMbbl of Bitumen in 2011
6.4 Cold Lake is the Largest In Situ Production Project in Canada
7 Oil Sands in Canada - Production Forecasts and Major Planned Projects
7.1 Oil Sands Industry in Canada is Expected to Produce 3.2 MMbbl/d of Bitumen and Synthetic Crude by 2020
7.1.1 Athabasca is Set to Continue its Dominance in Bitumen and Synthetic Crude Production in the Canadian Oil Sands Industry by 2020
7.1.2 In Situ Drilling will Gain Prominence in Bitumen and Synthetic Crude Production from Canada’s Oil Sands by 2020
7.1.3 Canada is Expected to Have a Heavy Oil Upgraders Capacity of 542.5 MMbbl by 2020
7.2 Fort Hills is One of the Largest Planned Oil Sands Projects in Canada
7.3 Nexen is Developing Phase II and Phase III of the Long Lake Project in Canada
7.4 Suncor Energy’s Voyageur South Project is Expected to Produce 120,000 Barrels per Day of Bitumen in the Future
8 Oil Sands in Canada - Recent Financial Deal Activity
8.1 Oil Sands Industry in Canada Witnessed 28 Financial Deals in January to August 2012
8.1.1 High Deal Activity Reaffirms the Significant Industry Interest in Canada’s Oil Sands
8.2 CNOOC’s Acquisition of Nexen will Bolster the Acquirer’s Oil Portfolio by about 30%
8.2.1 CNOOC’s Planned Acquisition of Nexen Reaffirms Growing Interest of Chinese Companies in Canadian Companies and Assets
8.2.2 Canada might Approve the CNOOC’s Acquisition of Nexen as it Requires Foreign Capital for Developing Oil Sands
8.3 ONGC Consortium Plans to Acquire ConocoPhillips’ Oil Sands Assets of in Canada to Reinforce their Global Oil Portfolio
8.4 Koch Oil Sands Plans to Sell Six Oil Sands Properties in Alberta for $2.9 Billion
9 Oil Sands in Canada - Competitive Landscape
9.1 Suncor Energy had Net Proved and Probable Bitumen Reserves of 1,164 MMbbl by the End of 2011
9.2 Imperial Oil Limited Reported Net Proved Bitumen Reserves of 2,413 MMbbl by the End of 2011
9.3 Shell Produced 45 MMbbl of Synthetic Crude Oil in 2011
9.3.1 Shell Canada Plans to Construct First Carbon Capture and Storage Project in the Canadian Oil Sands Industry
9.4 Canadian Natural Resources Limited is Among the Major Companies Engaged in Oil Sands Projects in Canada
10 Appendix
10.1 Market Definition
10.2 Abbreviations
10.3 Sources
10.4 Methodology
10.4.1 Coverage
10.4.2 Secondary Research
10.4.3 Primary Research
10.4.4 Expert Panel Validation
10.5 Contact Us
10.6 Disclaimer

1.1 List of Tables
Table 1: Oil Sands Industry, Canada, Supply and Operating Costs- Estimates by Process Used for the Recovery of Bitumen ($/bbl), 2010
Table 2: Oil Sands Industry, Canada, Crude Oil Prices Required for Capex of New Oil Sands Projects, 2010
Table 3: Oil Sands Industry, Canada, Capex and Opex of Oil Sands Projects in Canada by In Situ and Mining Technologies (CAD$m), 2006-2011
Table 4: Oil Sands Industry, Canada, Major Milestones Leading to the Commercial Production from Oil Sands, 2012
Table 5: Oil Sands Industry, Canada, Bitumen and Synthetic Production from Oil Sands in Athabasca, Cold Lake and Peace River Areas (MMbbl), 2006-2011
Table 6: Oil Sands Industry, Canada, Heavy Oil Upgraders Capacity (MMbbl), 2006-2011
Table 7: Oil Sands Industry, Canada, Details of Top Five Oil Sands Projects (bbl/d), 2011
Table 8: Oil Sands Industry, Canada, Expected Bitumen and Synthetic Production from Oil Sands in Athabasca, Cold Lake and Peace River Areas (MMbbl), 2011-2020
Table 9: Oil Sands Industry, Canada, Bitumen Sources for Long Lake Upgrader (bbl/d), 2012-2014
Table 10: Oil Sands Industry, Canada, Major Financial Deals ($m), 2010-August 2012
Table 11: Oil Sands Industry, Canada, Nexen’s Oil Sands Production Interests in Canada, bpd, 2011
Table 12: Oil Sands Industry, Canada, Major Deals by China’s Companies in Oil and Gas Sector in Canada ($m), January-September 11, 2012
Table 13: Oil Sands Industry, Canada, Planned Acquisitions of Unconventional Oil and Gas Assets by Indian NOCs ($m), September 2010-July 4, 2012
Table 14: Oil Sands Industry, Canada, Oil Sands Assets being Acquired by ONGC Consortium from ConocoPhillips (MMbbl), 2012
Table 15: Oil Sands Industry, Canada, Suncor Energy’s Bitumen and Synthetic Crude Oil Reserves (Gross and Net) (MMbbl), 2011
Table 16: Oil Sands Industry, Canada, Suncor Energy’s Monthly Average Production and Year-to-Date Average Production from Oil Sands (bbl/d), 2011
Table 17: Oil Sands Industry, Canada, Shell’s Synthetic Crude Oil and Bitumen Production (Mbbl/d), 2009-2011
Table 18: Oil Sands Industry, Canada, Canadian Natural Resources Limited’s Gross Crude Oil and Bitumen Reserves (MMbbl), 2011
Table 19: Oil Sands Industry, Canada, Canadian Natural Resources Limited’s Capacity Targets and Scheduled Start Dates for In situ Projects (bbl/d), 2012

1.2 List of Figures
Figure 1: Oil Sands Industry, Canada, Composition of Oil Sands, 2012
Figure 2: Oil Exploration and Production Industry, Global, Top Countries by Proved Oil Reserves, billion bbl, 2012
Figure 3: Oil Sands Industry, Canada, Location of Oil Sand Deposits, 2012
Figure 4: Oil Sands Industry, Canada, Overview of Steam-Assisted Gravity Drainage and Cyclic Steam Stimulation Processes, 2012
Figure 5: Oil Sands Industry, Canada, Overview of Kearl Process, 2012
Figure 6: Oil and Gas Industry, The US, Top Five Countries of Origin for US Imports of Crude Oil and Petroleum Products (bbl/d), 2011
Figure 7: Oil Sands Industry, Canada, Overview of Energy Industry Regulation in Canada, 2012
Figure 8: Oil Industry, World, Projected Liquids- Demand (MMtoe), 2010-2030
Figure 9: Oil and Gas Industry, Canada, Foreign Direct Investment in the Canadian Energy Sector (CAD$m), 2005-2011-
Figure 10: Oil and Gas Industry, Canada, Working Mechanism of THAI Technology, 2012
Figure 11: Oil and Gas Industry, Canada, Greenhouse Gas Emissions by Sector (%), 2010
Figure 12: Oil and Gas Industry, Canada, Jacobs Consultancy’s Comparison of the Carbon Intensities of EU Crude Oils and Alberta’s Crude Oils, gCO2e/MJ of Crude, 2012
Figure 13: Oil Sands Industry, Canada, Capex and Opex of Oil Sands Projects (CAD$m), 2006-2011
Figure 14: Oil and Gas Industry, Canada, Capex and Opex of Upgraders (CAD$m), 2006-2011
Figure 15: Oil Sands Industry, Canada, Location of McMurray Formation in the Lower Athabasca Region, 2012
Figure 16: Oil Sands Industry, Canada, Breakdown of Canadian Crude Oil Production by Source, 2011
Figure 17: Oil Sands Industry, Canada, Production of Bitumen and Synthetic Crude (MMbbl), 2006-2011
Figure 18: Oil Sands Industry, Canada, Production of Bitumen and Synthetic Crude from Oil Sands by Region (%), 2006-2011
Figure 19: Oil Sands Industry, Canada, Bitumen and Synthetic Crude Production from Oil Sands in Canada by Recovery Method (MMbbl), 2006-2011
Figure 20: Oil Sands Industry, Canada, Shares of Mining and In Situ Drilling for the Production of Bitumen and Synthetic Crude from Oil Sands (%), 2006 and 2011
Figure 21: Oil Sands Industry, Canada, Bantrel’s Upgradation Process, 2012
Figure 22: Oil Sands Industry, Canada, Locations of Syncrude Project’s Oil Sands Leases, 2012
Figure 23: Oil Sands Industry, Canada, Syncrude Project’s Bitumen Production (MMbbl), 2006-2011
Figure 24: Oil Sands Industry, Canada, Base Operations (Steepbank/Millennium) Project’s Bitumen Production (MMbbl), 2006-2011
Figure 25: Oil Sands Industry, Canada, Cold Lake Project’s Bitumen Production (MMbbl), 2006-2011
Figure 26: Oil Sands Industry, Canada, Share of Oil Sands’ Crude in Total Crude Oil Production, 2011, 2015 and 2020
Figure 27: Oil Sands Industry, Canada, Expected Production of Bitumen and Synthetic Crude (MMbbl), 2011-2020
Figure 28: Oil Sands Industry, Canada, Expected Bitumen and Synthetic Crude Production by Recovery Method (MMbbl), 2011-2020
Figure 29: Oil Sands Industry, Canada, Expected Heavy Oil Upgraders Capacity (MMbbl), 2011-2020
Figure 30: Oil Sands Industry, Canada, Location of Fort Hills Project and Voyageur Upgrader, 2012
Figure 31: Oil Sands Industry, Canada, Location of the Long Lake Project, 2012
Figure 32: Oil Sands Industry, Canada, Location of Voyageur South Project, 2012
Figure 33: Oil Sands Industry, Canada, Comparison of Deals Value and Number of Deals ($m), 2010-August 2012
Figure 34: Oil Sands Industry, Canada, Investments by Chinese Companies in Canada's Oil Sands Industry ($m), 2009-August 2012-
Figure 35: Oil Sands Industry, Canada, Locations of the Koch Oil Sands’ Six Oil Sands Properties, 2012
Figure 36: Oil Sands Industry, Canada, Suncor Energy’s Oil Sands Operations in Alberta, 2011
Figure 37: Oil Sands Industry, Canada, Imperial Oil’s Synthetic Oil and Bitumen Net Proved Reserves (MMbbl), 2011
Figure 38: Oil Sands Industry, Canada, Breakdown of Imperial Oil’s Total Crude Oil and Natural Gas Liquid Production (%), 2011
Figure 39: Oil Sands Industry, Canada, Shell’s Oil Sands Operations, 2011
Figure 40: Oil Sands Industry, Canada, Carbon Capture at Shell Canada’s Scotford Upgrader, 2012

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Canada Oil Sands Continue to Gain Global Attention

Canada holds the largest crude oil deposits outside the Middle East, most of which are in the form of oil sands, and are expected to play a major role in supplying the world’s future energy requirements, states a new report by energy experts The authors.

The new research* states that Canada is one of the leading countries in the world in terms of proved oil reserves, with 175.2 billion barrels (bbl) of proved oil reserves at the end of 2011, out of which 169.2 billion bbl of reserves were available as oil sands. Development of the oil sands industry in Canada will continue to be spurred on by the continuous growth of global oil demand and high crude oil prices, as oil sands projects once seen as economically unviable are now being considered profitable. The favorable business and political climate in Canada, and continuous technological advancements are also set to support industry growth.

Oil sands are essentially bitumen, an extra-heavy crude oil, mixed with sand, water, and clay, or other minerals. Bitumen is so viscous that it cannot be pumped or flow without heating or dilution, and needs treatment before undergoing processing in refineries.

Production from the Canadian oil sands industry is expected to increase in the future, due to the start of new projects, and the development of technologies which will enable enhanced oil sands processing. Substantial financial activity is taking place in the market, with several companiesmaking investments. The industry also saw the announcement ofa significant acquisition in 2012 –the acquisition of NexenInc by China’s CNOOC Ltd for $15.1 billion – which reflected a global interest held in Canada’s unconventional oil assets. Syncrude, the largest oil sands project in Canada, is also expected to undergo expansion by 2018, and Fort Hills is one of the largest planned oil sands projects, with a capacity to produce 160,000bbl/d by 2016.

The huge oil sands reserves in Canada will contribute towards global energy security. Canada is already the largest supplier of crude oil and petroleum products to the US, accounting for nearly 25% of US crude oil and petroleum imports in 2011. International Oil Companies (IOCs) can currently access only one in six barrels of the world’s known oil reserves, and approximately half of these reserves are available in Canada as oil sands deposits. Canada therefore could play a substantial role in ensuring future global energy security.

However, the development of oil sands in Canada is attracting criticism due to several issues such as high water use and Greenhouse Gas (GHG) emissions.

The oil sands industry in Canada produced approximately 408.2 million barrels (MMbbl) of bitumen and synthetic crude in 2006, growing at an Average Annual Growth Rate (AAGR) of 7.1% to reach 581.9 MMbbl in 2011. Production is expected to increase to 1,157.8 MMbbl by 2020.

* Oil Sands Industry in Canada - Market Analysis, Competitive Landscape and Production Forecasts to 2020

This report provides information about Canada’s oil sands market until 2020. It provides information on key oil sands projects and key companies in three major oil sands regions of Alberta: Athabasca, Cold Lake and Peace River. The report also provides key drivers and challenges for the industry in the current industry environment.

The report was built using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis conducted by The authors’s team of industry experts.

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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