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Book Chapter

The Alberta Oil Sands: Reserves and Long-term Supply Outlook

By
Farhood Rahnama
Farhood Rahnama
Energy Resources Conservation Board, Suite 1000, 250-5th St. SW, Calgary, Alberta, T2P 0R4, Canada (e-mail: rick.marsh@ercb.ca)Retired.
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Richard A. Marsh
Richard A. Marsh
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LeMoine Philp
LeMoine Philp
Retired.
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Published:
January 01, 2013

Abstract

Alberta’s oil sands hold almost all of Canada’s crude bitumen resources within one of the world’s largest deposits of extra heavy crude oil. Its established reserves of crude bitumen have been favorably compared with the conventional oil reserves of Saudi Arabia. Alberta’s oil-sand industry has been the source of large investments since the 1960s, but investment has been particularly strong in the past decade. Crude bitumen production in Alberta has more than doubled in this period and is expected to reach more than 3 million bbl per day during the next decade, as the pace of oil-sand development accelerates. This paper contains a forecast of the potential production from this vast resource, with consideration for reserves markets, and the economic viability of crude bitumen production within Alberta.

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Contents

AAPG Studies in Geology

Heavy-oil and Oil-sand Petroleum Systems in Alberta and Beyond

Frances J. Hein
Frances J. Hein
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Dale Leckie
Dale Leckie
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Steve Larter
Steve Larter
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John R. Suter
John R. Suter
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American Association of Petroleum Geologists
Volume
64
ISBN electronic:
9781629812649
Publication date:
January 01, 2013

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