Unconventional Oil

[johnlw]

Upgraders worth $130B to region, study says

The Edmonton Journal

Thursday, May 03, 2007

EDMONTON - More than $130 billion will be injected into the local economy by the nine bitumen upgrader plants planned for the area, a new study reveals.

Basic procurement needs during the 2008 to 2015 construction years will be between $19 billion and $33 billion, while at least another $100 billion will be spent on supplies and services once they are in operation, the study by Colt Engineering says.

Bitumen production will grow from the current one million barrels a day in the province to 3.5 million by 2020, with most of it upgraded in the Edmonton area, says the study prepared for Edmonton Economic Development Corp. and the province.

EEDC president Ron Gilbertson said the study shows the scope of opportunities for local manufacturers, suppliers and planners.

Three upgraders already are being built or are in the detailed engineering stage, while another three have submitted proposals to the Alberta Energy and Utilities Board.

Two other groups have said they plan facilities, and Colt believes a ninth will emerge from numerous other plans now in the proposal stage.
© The Edmonton Journal 2007