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Cenovus Hits Production Milestone at Oil Sands Facilities; One Billion Barrels
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Cenovus Energy Inc. has reached one billion barrels of cumulative production from its Foster Creek and Christina Lake oil sands facilities in northern Alberta.
Cenovus is the first company to produce one billion barrels of oil using steam-assisted gravity drainage (SAGD) technology.
Foster Creek began producing oil as a pilot under a predecessor company in 1997 and in 2001 became the first commercial oil sands project to use SAGD, while Christina Lake began producing oil in 2002.
Alex Pourbaix, Cenovus President & Chief Executive Officer, said: “This incredible achievement for Cenovus represents over 20 years of hard work, perseverance and innovation by our staff members, both past and present. Thanks to their efforts, we can proudly say today that we are an industry leader, that our oil sands projects have made a significant contribution to the Canadian economy, and that Cenovus’s oil is among the most responsibly produced oil on the planet.”
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