Abstract
When Shell Canada produces its first barrel of synthetic crude from the Oil Sands sometime next year, it will join a very small group of companies. If a ‘club’ for synthetic crude producers existed, Shell’s efforts would have earned its membership by virtue of decades of work, billions of dollars, and more than a little of the proverbial ‘blood, sweat and tears’.
Shell’s story and experiences in the Oil Sands are not only a testament of tenacity, but also a good example of the myriad challenges developers face. “Oil sands projects are not ‘slam dunks’ and certainly not for the faint of heart,” says Neil Camarta, Senior Vice President, Shell Oil Sands, and leader of the Athabasca Oil Sands Project (AOSP). “It takes courage, deep pockets, staying power and experience in the building and operation of mega-projects.”
Specific focus during this presentation will be given to:
- The Athabasca Oil Sands Project, associated expansion and proposed Jackpine Mine (which could provide up to 25% of Canada’s oil requirements.)
- Mega-project development. Oil Sands projects are world scale in every dimension – including some significant risks that must be carefully managed, including large capital investments, high execution risk, product market availability and pricing, operational, financial market support and fiscal take.
- The stakeholder support needed for oil sands mega-projects, including consultation and commitments required around greenhouse gas emissions (e.g. Shell Canada Climate Change Advisory Panel).
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