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CANADIAN OIL SANDS SUPPLY COSTS AND DEVELOPMENT PROJECTS (2015-2035)

Canadian Oil Sands Supply Costs and Development Projects (2015-2035)

Study Released August 12, 2015

Study No. 152

Each year the Canadian Energy Research Institute (CERI) publishes its long-term view for Canadian oil sands supply costs and production. This is the tenth annual edition of CERI’s oil sands supply cost and development projects update. In-situ steam assisted gravity drainage (SAGD) costs for the oil sands are C$58.65/bbl and surface mining costs are C$70.18/bbl. These greenfield cost estimates are 10% higher than last year for SAGD and 7% lower for a standalone mine. Oil sands investments and operations provide economic benefits to the whole country but the three provinces with the most significant GDP benefits are Alberta (C$3,600 billion), Ontario (C$221 billion) and British Columbia (C$105 billion) over the 20 year period (2015-2035).Over that time employment generated in those three provinces are 16 million person years, 1.6 million person years, and 900 thousand person years of employment respectively.

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