Bitumen Production Rises in 2015
Despite the significant weakness in oil prices, crude bitumen production in Alberta rose in 2015.
Last year, bitumen—extra heavy oil found in the oil sands region—accounted for 83 per cent of Alberta’s total oil production. As projects were completed and started producing in 2015, output grew by almost 12 per cent at mining projects and nearly eight per cent at in situ projects. This resulted in an overall raw bitumen production increase of almost 10 per cent over 2014.
The AER projects this production will continue to increase over the next 10 years and reach 3.8 million barrels of marketable bitumen per day by 2025.