By rdnewsNOW

Nexen supporting oil sands growth and climate action

Sep 12, 2018 | 8:15 AM

FORT MCMURRAY- Premier Notley and Energy Minister Margaret McCuaig-Boyd joined Nexen officials, First Nations enterprises and other local suppliers to highlight a $400-million investment by Nexen.

With leading-edge technology, the Long Lake South West project hopes to show  that a major oil sands producer can be both an energy and environmental leader while showing a long-term commitment to creating good jobs in Alberta’s energy sector.

The steam-assisted gravity drainage production facility expects to achieve first oil production in 2020, and will produce 26,000 barrels per day once it reaches full capacity.

This production requires less steam and natural gas on a per-barrel basis, meaning less energy is needed overall for total production.

Through these advancements, Long Lake will achieve a 20 per cent reduction in greenhouse gas emissions intensity from current levels by 2025.

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Premier Notley states, “We’ve always said that you can’t write climate action out of economic growth, and you can’t write working people out of climate action. Long Lake South West is a prime example of that principle, putting people to work while growing our energy production and reducing emissions at the same time.”

The $400-million investment in Long Lake South West includes engineering, construction and startup, with more than 90 per cent of this value spent in Alberta.

Approximately 250 full-time jobs are expected at the peak of construction, with an estimated $200 million in provincial royalties and property taxes during the life of the project.

(Gary McKinnon)