BIG PLANS FOR GROWTH AT CENOVUS (SAGD) BIG PLANS FOR GROWTH AT CENOVUS
At this week's investor update, Cenovus Energy, announced big plans to grow oil sands production by as much as 80,000 bbl/day over the next five years.
A number of optimization projects are underway at Foster Creek, aiming to Increase oil handling capacity. Cenovus says the improvements will increase production by over 30,000 bbl/day by the end of 2027.
The tie-back of new wells at Narrows Lake to the Christina Lake Central Processing Facility (CPF) is also expected to increase production by about 25,000 bbl/day in the near future. The 17-km stram and emulsions interconnection is expected to be in service by the middle of 2025.
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The company also says it is working towards increasing production and improving efficiencies at the Sunrise SAGD facility, and looks to boost output to over 65,000 bbl/day in the next few years. The project's first sustaining well pads were brought online late last year, and another two pads are planned for this year. Production is expected to grow by as much as 20,000 bbl/day over the next 5 years.
Cenovus is Alberta's largest in-situ producer, averaging 470,000 bbl/day of thermal in-situ production last year.
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https://www.oilsandsmagazine.com/news/2024/3/7/2024-growth-plans-at-foster-creek-sunrise-christina-lake-kirby
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