Statoil Oil Sands Production Up More Than 60% in 2012



Statoil Oil Sands Production Up More Than 60% in 2012

Statoil announced Thursday that it boosted production from its Canadian oil sands activities by more than 60 percent during 2012, while the Norwegian firm reduced its carbon dioxide intensity by almost 24 percent.

Statoil said that its "2012 Oil Sands Report" demonstrates clear progress in reaching the firm's ambitious targets for responsible oil sands production in Canada.

Production at Statoil's Leismer Demonstration Project began in January 2011. A steam-assisted gravity drainage facility, Leismer produced 16,333 barrels per day during 2012.

Statoil – which also operates sand oil leases at Kai Kos Dehseh in northern Alberta – said its ambition is to reduced carbon dioxide intensity in its production process by 25 percent by 2020 and by 40 percent five years later. Average carbon dioxide emissions per barrels during 2012 were 55.6 kilograms – down from 72.7 kilograms in 2011.

"In 2012 we increased oil sands production by more than 60 percent and reduced CO2 intensity by almost 24 percent. We reduced water usage, improved our steam-oil ratio and planted 267,000 trees to reclaim land. We are proud of the results we have achieved and are encouraged to continue our efforts to reach our ambitious targets," Statoil's senior vice president in Canada, Ståle Tungesvik, said in a company statement.



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