By Upstream staff
Shell Canada aims to produce 50,000 barrels of tar-like bitumen a day from its steam-driven oil sands operations over the next two years, helped by its C$2.4 billion ($2.1 billion) takeover of BlackRock Ventures, it said today.
Following the buy up, Shell Canada estimates its “in situ” oil sands reserves at 25 billion barrels. In situ oil sands are produced in wells with the aid of steam, instead of being mined.
The long-term potential production from those assets is 150,000 barrels a day, Shell Canada said, Reuters reported.
*This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, and shellwikipedia.com, are owned by John Donovan - more information here. There is also a Wikipedia segment, the Shell DPA Files, "Shell and the Spies", the Shell Leaks files, the Independent Shell Archive, as well as books written and published by John Donovan - Kindle eBooks. Timeline of the Donovan Shell Feud. Toxic History of Royal Dutch Shell Group. Shell and the Donovans: The Full Media Record — 550+ Articles, 110 Books, 40 Years. *All conjured up by internet wizz, Nick Gill.
