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BP confirmed today that operations have started at the Sunrise Phase 1 in-situ oil sands project in Alberta, Canada, with the start of steam generation. Husky Energy is the operator of Sunrise, a 50/50 joint venture with BP.
Sunrise is being developed using steam assisted gravity drainage (SAGD), oil well technology which warms the underground bitumen (heavy oil) layers until warm enough to flow. Oil production is expected in the first quarter of 2015.
“Sunrise first steam is a landmark for us in 2014, our sixth major project start-up this year, our very first in-situ oil sands operations and a long-life asset which should give us steady production for decades,” said Lamar Mckay, chief executive, BP Upstream. “SAGD at Sunrise adds to our expertise in unconventional hydrocarbons including tight oil and gas, leveraging our technology lead in seismic interpretation and our management of giant reservoirs.”
“First steam at Sunrise marks a key step towards building BP’s in-situ oil sands production in Canada,” said Stephen Willis, BP Canada President and Chairman. “Husky and BP have partnered to create an energy business that integrates our upstream position in the oil sands with our downstream refining capacity in the US.”
The long term plan for Sunrise involves three phases of development growing production capacity to 200,000 barrels per day (bpd); the field is expected to be in production for over 50 years. This first phase is designed for 60,000 bpd (gross) bitumen capacity in two processing plants, expected to be reached over the next 18-24 months. The second plant of this first phase is due to start up around the middle of 2015.
A second 70,000 bpd phase is in design stage, while the third phase is in early appraisal.
In the 2007 agreement with Husky Energy, the two companies created an integrated North American oil sands business consisting of two 50/50 joint ventures: Sunrise Oil Sands (operated by Husky); and Toldeo Refinery, Ohio, (operated by BP).
Notes to Editors
• Located 60 kilometres northeast of Fort McMurray, Alberta, Sunrise is considered a world-class reservoir with estimated resources of 3.7 bn bbls. Husky (operator) and BP each have a 50 percent working interest in these reserves. Production is anticipated over a 40-plus year life span.
• Sunrise has two 30,000 bpd bitumen capacity trains (Plant 1A and 1B) in the Central Processing Facility that are being turned on in sequence.
• Sunrise uses steam-assisted gravity drainage (SAGD) technology to recover the bitumen, a technology that does not require open pit mines or tailing ponds.
• Regulatory approvals are in place for up to 200,000 barrels per day and engineering work is in progress for Phase 2.
• BP’s major project start-ups in 2014 have been: Chirag Oil, Azerbaijan; Mars B, US GoM; Na Kika 3, US GoM; Atlantis N expansion, US GoM; CLOV, Angola; and Sunrise phase 1, Canada.
Cautionary statement
This press release contains certain forward-looking statements concerning BP’s expectations regarding operations at the Sunrise Phase 1 in-situ oil sands project (Sunrise), including expectations that Sunrise will be a long-life asset with production for around 50 years and its expected long term production capacity; statements regarding future in-situ oil sands production in Canada; and statements regarding the timing of initial oil production, of reaching expected phase one capacity and of the start up of the second plant. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will or may occur in the future. Actual results may differ from those expressed in such statements, depending on a variety of factors including changes in public expectations and other changes to business conditions; the receipt of relevant third-party and or regulatory approvals; future levels of industry product supply; demand and pricing; economic and financial conditions generally or in various countries and regions; the timing and nature of maintenance outages; operational problems; political stability and economic growth in relevant areas of the world; changes in laws and governmental regulations; regulatory or legal actions; development and use of new technology; the success or otherwise of partnering; the actions of competitors, trading partners and others; natural disasters and adverse weather conditions; wars and acts of terrorism, cyber-attacks or sabotage; and other factors discussed under "Principal risks and uncertainties" in our Stock Exchange Announcement for the period ended 30 June 2014 and under "Risk factors" in our Annual Report and Form 20-F 2013 as filed with the US Securities and Exchange Commission.
This press release contains references to non-proved resources and production outlooks based on non-proved resources that the SEC’s rules prohibit us from including in our filings with the SEC. U.S. investors are urged to consider closely the disclosures in our Form 20-F, SEC File No. 1-06262. This form is available on our website at www.bp.com. You can also obtain this form from the SEC by calling 1-800-SEC-0330 or by logging on to their website at www.sec.gov.
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