An oil sands project
Our 100 percent-owned Christina Lake project is one of our two producing oil sands operations in northeastern Alberta and is located approximately 120 kilometres southeast of Fort McMurray. The oil at Christina Lake is about 375 metres underground. It's so deep that we have to use specialized technology to drill and pump it to the surface. The technology we use is called steam-assisted gravity drainage (SAGD).
Construction of our pilot project at Christina Lake began in 2000 and first production occurred two years later. In 2019, Christina Lake produced approximately 195,000 barrels of oil per day (bbls/d).
Construction at the latest Christina Lake expansion, phase G, was completed in 2019, ahead of schedule and below budget. Overall current production capacity at Christina Lake is 260,000 bbls/d.
Today, Christina Lake is one of the most efficient SAGD facilities in the industry. It has a low steam to oil ratio (SOR), which means it uses less water and natural gas and creates fewer greenhouse gas emissions to produce a barrel of oil than other oil sands facilities of the same size. In 2019, the project had an average SOR of 2.0 This means we used approximately two barrels of steam to produce one barrel of oil.
We have an additional 100 percent owned oil sands asset called Narrows Lake that could be tied back to the pre-existing infrastructure at Christina Lake. Narrows Lake could support incremental production from Christina Lake if we decide to develop this asset.