Business
Shell Canada closer to regulatory approval for Upgrader Expansion
Shell Canada closer to regulatory approval for Upgrader Expansion.
About this update from Mapath Capital Corp
[{"type":"text","content":"\n\n\n\n\nCALGARY, Aug. 30 /CNW/ - Shell Canada Limited today announced that it has\nreceived the decision report and conditional approval from the Alberta Energy\nand Utilities Board (AEUB) for the proposed expansion of the Scotford\nUpgrader.\nExpansion of the Scotford Upgrader, which is located northeast of\nEdmonton, was found to be in the public interest. The application, which is\nsubject to two conditions from the AEUB and 12 commitments made by Shell, now\nhas to be ratified by the provincial government cabinet.\n\"This is another important step forward in our long-term goal to increase\nproduction from our Athabasca oil sands leases to 550,000 barrels per day\"\n(330,000 bpd Shell share), said Brian Straub, Senior Vice President, Oil\nSands, Shell Canada Limited. \"We are pleased with the AEUB's decision in\nhelping us to build on a strong base of existing operations and develop this\nresource in a sustainable manner.\"\nLast month Shell announced that it issued a formal proposal to proceed\nwith Expansion 1 to the other Athabasca Oil Sands Project (AOSP) joint venture\nowners. AOSP Expansion 1 is a fully integrated expansion of the existing AOSP\nfacilities, with both new oil sands mining operations on Lease 13 and\nadditional bitumen upgrading facilities at Scotford. It also includes\nconstruction of common infrastructure that will be built to support future\nexpansions.\nShell Canada intends to make a final investment decision for this project\nin the fourth quarter of 2006. First bitumen production is expected in late\n2009 followed by upgrader production in late 2010.\nThe Scotford Upgrader is located near Fort Saskatchewan, northeast of\nEdmonton. The Muskeg River Mine is located about 75 kilometres north of Fort\nMcMurray, Alberta. Together the facilities make up the existing Athabasca Oil\nSands Project, a joint venture among Shell Canada Limited (60%), Chevron\nCanada Limited (20%) and Western Oil Sands (20%).\n\n\n","length":2003,"tagName":"div"}]