An oil sands project
Our 100 percent-owned Foster Creek project is one of our two producing oil sands projects in northeastern Alberta. It is located about 330 kilometres northeast of Edmonton, on the Cold Lake Air Weapons Range — an active Canadian military base. The oil at Foster Creek sits about 450 metres below the surface — so deep that we have to use technology, called steam-assisted gravity drainage (SAGD), to drill and pump the oil to the surface.
Foster Creek began as a pilot project in 1996 and in 2001 became the first commercial oil sands project to use SAGD technology. Foster Creek has current gross production capacity of 180,000 barrels of oil per day, including the most recent expansion phase that began producing in the third quarter of 2016.