Alberta crude oil reserves

Discovered resources of heavy and extraheavy crude oil are estimated to be approximately 4,600 billion bbl, two-thirds of which are in Canada and Venezuela. Bitumen and tar sands are excluded from this estimate. Published data on reserves estimates (RE) from this resource by primary drive mechanisms are sparse. Oil. Canada has the third-largest oil reserves in the world. Of the 170 billion barrels of Canadian oil that can be recovered economically with today’s technology, 165 billion barrels are located in the oil sands. The International Energy Agency (IEA) expects that Canada will be third in oil production growth until 2040, after Brazil and Iraq.

9 Nov 2019 Canada has about six billion barrels of remaining oil reserves located outside the oil sands, found primarily in Alberta, Saskatchewan and  In 2016, Alberta produced about 80 per cent of Canada's crude oil. Alberta is home to one of the world's largest unconventional oil deposits, the oil sands, but   heavy oil, or bitumen, are rated economically recoverable – making them the world's 3rd largest crude reserve. Only about 20% of bitumen reserves that lie  The Athabasca Oil Sands are large deposits of bitumen, or extremely heavy crude oil, located in north-eastern Alberta, Canada roughly cantered around the  Alberta's oil sands are the third-largest crude oil reserves in the world. These critical resources attract global investment. Canada's oil and gas industry is the  17 Jun 2019 The Alberta oil sands were accounted for in the proven oil reserves under the Alberta Energy and Utilities Board (now known as the Energy 

Canada's oil sands resources are located in three major deposits: 1) the that oil sands crude extraction accounted for 46.7% of Alberta's primary energy 

Oil and Gas Equipment. Alberta has the world’s third largest proven crude oil reserves after Saudi Arabia and Venezuela. Canada is the world’s third largest supplier of natural gas, with Alberta accounting for 67% of Canadian production. The information is used to develop policies, for regional land use planning, and by the energy industry to help evaluate investment opportunities in Alberta. Reserves are determined for crude bitumen, crude oil, natural gas, natural gas liquids, sulphur, and coal. Until now, the AER used a reserves reporting system called IPACE (Inter-Provincial Advisory Committee on Energy) for uniform terminology and definitions in estimating and publishing hydrocarbon reserves information in Canada. The province estimates oil will average $58 a barrel in 2020-21, maintaining its October forecast, and projected the economy will grow 2.5% in 2020, after almost no growth in 2019. Alberta, which While it produces conventional oil, most comes from the Alberta oil sands, the world’s third largest proven oil reserve at 170 billion barrels. There are three major oil sands areas, all in Alberta, with reserves that dwarf those of the conventional oil fields. These three areas, namely the Athabasca, Cold Lake and Peace River oil sands areas, contain initial oil-in-place reserves of 266 392 x 10 6 m 3 , compared to the 11 544 x 10 6 m 3 initial established in-place volumes in conventional oil fields. Discovered resources of heavy and extraheavy crude oil are estimated to be approximately 4,600 billion bbl, two-thirds of which are in Canada and Venezuela. Bitumen and tar sands are excluded from this estimate. Published data on reserves estimates (RE) from this resource by primary drive mechanisms are sparse.

Alberta's oil sands' proven reserves equal about 165.4 billion barrels (bbl). Crude bitumen production (mined and in situ) totalled about 2.8 million barrels per 

Oil and Gas Equipment. Alberta has the world’s third largest proven crude oil reserves after Saudi Arabia and Venezuela. Canada is the world’s third largest supplier of natural gas, with Alberta accounting for 67% of Canadian production. The information is used to develop policies, for regional land use planning, and by the energy industry to help evaluate investment opportunities in Alberta. Reserves are determined for crude bitumen, crude oil, natural gas, natural gas liquids, sulphur, and coal. Until now, the AER used a reserves reporting system called IPACE (Inter-Provincial Advisory Committee on Energy) for uniform terminology and definitions in estimating and publishing hydrocarbon reserves information in Canada.

31 Mar 2015 of crude oil locked up in the Alberta tar sands northeast of Edmonton bested in size only by oil reserves in Venezuela and Saudi Arabia.

11 Apr 2019 The oil sands give Alberta the third largest reserves in the world, but Bitumen is too thick to pump, so light crude oil and chemicals are added. 9 Oct 2019 With 170 billion barrels of proven crude oil reserves, the importance of This is noteworthy because Canada's main production zone Alberta  9 Nov 2019 Canada has about six billion barrels of remaining oil reserves located outside the oil sands, found primarily in Alberta, Saskatchewan and  In 2016, Alberta produced about 80 per cent of Canada's crude oil. Alberta is home to one of the world's largest unconventional oil deposits, the oil sands, but   heavy oil, or bitumen, are rated economically recoverable – making them the world's 3rd largest crude reserve. Only about 20% of bitumen reserves that lie  The Athabasca Oil Sands are large deposits of bitumen, or extremely heavy crude oil, located in north-eastern Alberta, Canada roughly cantered around the  Alberta's oil sands are the third-largest crude oil reserves in the world. These critical resources attract global investment. Canada's oil and gas industry is the 

19 Jun 2019 The pipeline will deliver crude from the landlocked Canadian province of Alberta to A protester's hands covered in crude oil during a 2011 protest would allow Canada, which has the world's third-largest oil reserves, 

9 Nov 2019 It is closing in on a deal to offload the crude-by-rail program to the private sector. the current curtailment rules as long as the additional oil leaves Alberta by rail. Above are BP's estimate of remaining proved oil reserves. 5 Apr 2019 Oil sands deposits in the province of Alberta account for more than 95% of the country's reserves. The province also holds a considerable amount  14 Apr 2013 Brent crude oil spot price is expected to fall from an average of $112 per barrel in 2012 to annual averages of $108 per barrel in 2013 and $101  9 May 2013 Roughly 80 per cent of Alberta's bitumen deposits will be extracted using such methods. However, Cenovus Energy Inc., which has one of the  15 Apr 2016 When crude-oil prices were more than $100 a barrel just two years ago, oil sands deposits in the remote boreal forests of northern Alberta,  20 Mar 2014 Alberta's first commercial oil sands operation started in 1967. The exploration of oil sands significantly increased Canada's total oil reserves from of diluted bitumen crude oil transported by pipeline from the Alberta oil sands 

19 Feb 2013 As the supply of sweet, light crude diminishes, it is being replaced by Canada is touted as having the third largest oil reserves in the world. billion additional barrels of oil sands that are sitting under Alberta's boreal forests,  Alberta is the top region by established crude oil reserves in Canada. As of 2016, established crude oil reserves in Alberta was 267.8 million cubic meters that  Oil Reserves, Their Categories, and the World's Largest. Share; Pin reserves. Most of it, totaling about 166 billion barrels, is in Alberta, Canada. and 2050? Engineers taking notes in oil rigs drilling for oil and representing crude oil futures. raised the proven oil reserves of Venezuela to 296.6 billion barrels (bb) and Previously the term 'crude' has been restricted to conventional oil resources which Sources: IHS Energy Database / Alberta Government Data / IEA, World Energy. "Alberta's Reserves of Crude Oil, Oil Sands, Gas, Natural Gas Liquids, and Sulphur." Calgary, Alberta, Canada, December 1990. 12. Globe and Mail, various   The estimated petroleum reserves in the region are impressive, accounting for 36 per cent of the natural gas and 80 per cent of the light-medium crude oil in the