Canada's Oil Sands With an estimated initial volume in-place of approximately 1.7 trillion barrels (270 billion cubic metres) of crude bitumen, Canada's oil sands are one of the world's largest hydrocarbon deposits. When the Oil and Gas Journal released its estimates of global proved petroleum reserves at year-end 2002, it increased Canada's proved oil reserves to 180 billion barrels (29 billion cubic metres), compared to 4.9 billion barrels (780 million cubic metres) the previous year. This almost forty-fold increase catapulted Canada into second position for total oil reserves behind only Saudi Arabia, and cut the Organization of Petroleum Exporting Countries' (OPEC's) share of world oil reserves by more than 10 percent. The oil sands are located in three distinct areas in Northern Alberta: the largest Oil Sands Area is Athabasca, the second largest is Cold Lake, and the smallest is Peace River. There are 15 Oil Sands Deposits within the three Oil Sands Areas. The three Oils Sands Areas and the major Oil Sands Deposits within each OSA are shown in the following figure. Source: Alberta Energy Resources Conservation Board The oil sands industry produced 1,305 thousand barrels per day (kb/d) of crude bitumen in 2008, 722 kb/d from surface mining and 583 kb/d from in situ projects (Source: ERCB Report ST98-2009). A large portion of Alberta's bitumen production is upgraded to synthetic crude oil. After upgrading, supply of synthetic crude oil and non-upgraded crude bitumen totalled 1,205 kb/d in 2008 (654 kb/d of synthetic crude oil and 551 kb/d of non-upgraded crude bitumen). The current economic and financial crisis creates considerable uncertainty for the oil sands industry. Many proposed projects have been deferred; others have been cancelled. Strategy West has revised its outlook for the oil sands industry under two broad scenarios entitled "Prolonged Downturn" and "Early Recovery". Under the Prolonged Downturn Scenario, synthetic crude oil and non-upgraded crude bitumen supply from Canadian oil sands projects would reach 2.3 million b/d (mb/d) by 2020. Under the Early Recovery Scenario, supply from Canadian oil sands projects would reach 3.1 mb/d by 2020. In both scenarios, the percentage of bitumen upgraded before shipment to market would drop from current levels – to 53% in 2020 in the Prolonged Downturn Scenario and to 54% in 2020 in the Early Recovery Scenario. Strategy West's Oil Sands Industry Outlook is available for download in the next section of this page. Strategy West Oil Sands Industry Documents Strategy West has prepared and keeps current several documents including: a description of these vast resources and the recovery and upgrading technologies employed by the industry; a comprehensive listing of oil sands industry projects; and its outlook for the industry to 2020. These documents may be downloaded by clicking on the following links. Canada's Oil Sands; Strategy West Inc.; February 2009 (PDF 1.1MB) Oil Sands Projects; Strategy West Inc.; February 2009 (PDF 0.1MB) Oil Sands Industry Outlook; Strategy West Inc.; December 2008 (PDF 0.3MB) Other Oil Sands Industry Reports Several organizations publish reports on oil sands resources and reserves, industry outlooks and industry issues. Key reports are included here for your convenience and are available for download by clicking on the following links. Please refer to the referenced organizations' websites for more information. Oil Sands Technology Roadmap, Unlocking the Potential; Alberta Chamber of Resources; January 2004 (PDF 1.6MB) Alberta's Energy Reserves 2007 and Supply/Demand Outlook 2008-2017; Alberta Energy Resources Conservation Board; June 2008 (PDF 12.4MB) CAPP's Crude Oil Forecast December 2008 Update; Canadian Association of Petroleum Producers; December 2008 (PDF 0.4MB) Crude Oil Forecast, Markets & Pipeline Expansions; Canadian Association of Petroleum Producers; June 2008 (PDF 3.3MB) Canada's Energy Future, Reference Case and Scenarios to 2030: An Energy Market Assessment; National Energy Board; November 2007 (PDF 4.0MB) Canada's Energy Future, Reference Case and Scenarios to 2030: An Energy Market Assessment, Appendices; National Energy Board; November 2007 (PDF 6.2MB) Canada's Oil Sands, Opportunities and Challenges to 2015: An Update; National Energy Board; June 2006 (PDF 1.6MB) Oil Sands Fever, The Environmental Implications of Canada's Oil Sands Rush; The Pembina Institute, November 2005 (PDF 5.6MB) Down to the Last Drop, The Athabasca River and Oil Sands; The Pembina Institute; March 2006 (PDF 1.1MB) Death by a Thousand Cuts, Impact of In Situ Oil Sands Development on Alberta's Boreal Forest; The Pembina Institute and Canadian Parks and Wildlife Society; August 2006 (PDF 3.8MB)
