Issue link: http://resourceworld.uberflip.com/i/882975
O C T O B E R / N O V E M B E R 2 0 1 7 www.resourceworld.com 69 P R O F E S S I O N A L D I R E C T O R Y WE PROMISE AND WE DELIVER QUALIFIED PROJECTS FOR INITIAL PUBLIC OFFERING Fayz Yacoub Professional Geologist Tel: (604) 831-0424 Email: fayz@ontrackexploration.com www.ontrackexploration.com Koch has filed an application for Selina, a new 12,500-bbl/d SAGD project owned jointly with Pengrowth Energy [PGF- TSX] near Pengrowth's high-performing Lindbergh SAGD project, a $512-million capital cost. Whether the oil sands can reclaim its former glory is largely unknown, but it will be hindered by more stringent and costly regulations and government poli- cies that may diverge from those of the US competitor, which is likely to become more protectionist. "Developing resources responsibly to help achieve key regulatory, social and environmental outcomes, is important and needs to be done in a manner that does not unnecessarily burden industry and risk more jobs," Besson said, adding that growth in the Canadian crude oil supply is forecast to grow 5% annually until 2020, then slow to 2% until 2030. "The success of Canada's energy future relies on the ability to overcome these chal- lenges, including low commodity prices, industry competitiveness, pipeline capac- ity, regulatory uncertainty and access to new markets." COSIA remains confident in the future, and says with technology improving and costs coming down, the sector will be around for a long time to come. Wicklum stressed that Canada's oil sands sector has a history of delivering on research and development and is well established to make the step changes that will keep it environmentally sustainable and very competitive. He said the industry has already reduced its footprint over the last several years, and is focused on reduc- ing it even more and reducing its carbon intensity, enabling it to compete in a low carbon, low price economy. Wicklum said the value of COSIA's work for the future is that its "innova- tion agenda" will lead to advances that not only can be applied to Canada's oil sands but also to resource industries around the world as they shift to meet the inevitable changes. Canada's oil sands will continue to be a major supplier of the world's energy for decades to come so it's essential to find ways to reduce emissions – a major goal of COSIA, he said, which has "no limits" on exploring and collaborating on technology solutions, above or below surface. That increases the opportunities for discovering, developing and deploying technologies that will address environmen- tal challenges and enable a positive energy future – including the "inevitable" devel- opment of a carbon neutral barrel of oil. "Oil sands infrastructure is built to last for the long term, and with technol- ogy improving and costs coming down, Canada's oil sands sector will be around for a long time to come," he said. n continued from page 65