Canadian Oil Sands Upstream Development Outlook by Projects Count, Operator, Production, Company and Upcoming Projects, 2023-2027
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Canada Oil Sands Market Report Overview
The Canadian oil sands, found in the Western Sedimentary basin of the Alberta province, are the most prolific producing resources in North America. In 2023, production from the 33 active oil sand assets reached 3.296 million barrels per day (mmbd) and is expected to register a total growth of more than 11% by 2023-2027.
Canada Oil Sands Market Outlook, 2023-2027 (mmbd)
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During 2023, the whole oil sands output came from existing assets as no new projects began producing. Under this context, assets like Syncrude, Athabasca Oil Sands Project, Kearl Oil Sands Project, and Cold Lake among others were the most prominent producers, representing more than 74% of the Canadian oil sands output.
The Canada oil sands upstream development report provides a comprehensive overview of the region during the outlook period including major project counts. The report also provides Canada’s new projects capital expenditure outlook by key companies for 2023-2027.
Total Production | 3.296 (mmbd) |
Toral Growth (2023-2027) | >11% |
Key Upcoming Projects | · Dover Commercial Project (PetroChina Canada)
· May River (MEG Energy Corp.) · Birch Mountain (CNRL) · Gregoire Lake (CNRL) · Pike 2 (CNRL) |
Leading Companies | · Canadian Natural Resources Ltd
· Suncor Energy Inc · Cenovus Energy Inc · Exxon Mobil Corp · MEG Energy Corp · ConocoPhillips` |
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Canada Oil Sands Major Projects by Upcoming Projects
The key upcoming projects in the Canada oil sands market are May River (MEG Energy Corp.), Dover Commercial Project (PetroChina Canada), Birch Mountain (CNRL), Gregoire Lake (CNRL), and Pike 2 (CNRL). Dover Commercial Project (PetroChina Canada) had the highest total capex among all projects.
Canada Oil Sands Major Project Analysis by Upcoming Projects, 2023-2027 (%)
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Canada Oil Sands Market - Competitive Landscape
Some of the companies involved with oil sands project development in Canada are:
- Canadian Natural Resources Ltd
- Suncor Energy Inc
- Cenovus Energy Inc
- Exxon Mobil Corp
- MEG Energy Corp
- ConocoPhillips
Suncor Energy Inc. led the market in 2023. Among the companies, Canadian Natural Resources Ltd is expected to lead with the highest crude and condensate production from active and announced fields in 2027.
Canada Oil Sands Market Analysis by Oil Sands Development Companies, 2023 (%)
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Scope
- Canadian oil sands production outlook by key companies for the period 2023-2027
- Canada’s new projects capital expenditure outlook by key companies for 2023-2027
- Major projects count by key companies.
- Details of key upcoming oil sands projects in the region
Reasons to Buy
- Understand Canada’s oil sands production outlook during the period 2023-2027.
- Keep abreast of key upcoming production projects in Canada during the outlook period.
- Facilitate decision-making on the basis of strong oil sands production data.
- Develop business strategies with the help of specific insights on Canada’s upstream sector.
- Assess your competitor’s planned oil sands production projects in the region.
Table of Contents
Frequently asked questions
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What is the total production in the Canada oil sands market?
In 2023, production from the 33 active oil sand assets reached 3.296 million barrels per day (mmbd).
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What is the Canada oil sands production growth rate?
The Canada oil sands production is expected to register a total growth of more than 11% by 2023-2027.
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Which are the key upcoming projects in the Canada oil sands market?
The key upcoming projects in the Canada oil sands market are May River (MEG Energy Corp.), Dover Commercial Project (PetroChina Canada), Birch Mountain (CNRL), Gregoire Lake (CNRL), and Pike 2 (CNRL).
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Which is the leading upcoming project in the Canada oil sands market?
Dover Commercial Project (PetroChina Canada) had the highest total capex among all projects.
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Which are the key companies involved with oil sands project development in Canada?
Some of the companies involved with oil sands project development are Canadian Natural Resources Ltd, Suncor Energy Inc, Cenovus Energy Inc, Exxon Mobil Corp, MEG Energy Corp, and ConocoPhillips.
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