LONDON, August 8, 2011 /PRNewswire/ --
Sizeable quantities of extra-heavy oil and natural bitumen - estimated at 2.6 trillion to 3.8 trillion barrels - lie beneath the Earth's crust. Although abundant, oil sand resources are very hard to extract and in certain areas the oil is so thinly mixed with other sediments that it is not economically feasible to develop. The heavy oil's extreme viscosity raises its resistance to flow, which means reserves are nearly or completely immobile in the reservoirs. Therefore, extracting oil from oil sands is a high-stakes activity and requires considerable investment.
Time magazine has described the Alberta oil sands as "Canada's greatest buried energy treasure that could satisfy the world's demand for petroleum energy for the next century." Alberta's oil sands contain one of the world's largest of oil reserves. Indeed, current estimates show that these reserves are second only to Saudi Arabia.
According to the Energy Resources Conservation Board (ERCB), Canada's oil sand resources are estimated to hold as much as 175 billion barrels of recoverable bitumen with current technologies. The ERCB reports that oil sands bitumen production is currently around 1.5 million barrels of oil equivalent per day and expects that oil sands production will reach 2.7 million barrels per day by 2015. However, in the past the output of the oil sand industry has risen above expectations and it is likely that the actual oil equivalent output will exceed expectations once again and reach 3.0 million barrels by 2015.
The oil sands industry has been criticised for being very energy intensive and detrimental to the environment, hence companies involved in this market have accepted the problems that the industry have been facing. As a result, oil sand companies have been working together on devising new techniques and processes that allow for the reduction of tailings and minimising energy use. Furthermore, now oil sand companies are playing a more active role in protecting the environment while creating value for their shareholders.
Visiongain's latest energy report, the Oil Sand Market 2011-2021, takes a comprehensive look into this fast growing, modern industry. Visiongain calculates that capital expenditure in the global oil sands industry will reach $24.9bn in 2011, and that capital expenditure on oil sands projects will see substantial growth over the forecast period.
You will gain valuable insights into the future developments of the oil sands industry by ordering The Oil Sands Market 2011-2021 report today.
Table of Contents
1. Executive Summary
1.1 The Oil Sands Market Overview
1.2 Drivers and Restraints in the Oil Sands Market 2011-2021
1.3 Highlights of This Report
1.4 Benefits of This Report
1.6 The Global Oil Sands Market Forecast 2011-2021
1.7 The Leading National and Regional Oil Sands Market Forecasts 2011-2021
1.8 The Leading Oil Sands Submarket Forecasts 2011-2021
2. Introduction to the Oil Sands Market
2.1 A Brief History of Oil Sands
2.2 The World's Oil Sands Reserves
2.3 The Economics of Oil Production from Sands
2.4 Exploration & Development of Oil Sands
3. The Global Oil Sands Market
3.1 The Global Oil Sands Market Forecast 2011-2021
3.2 The Oil Sands Submarket Forecasts 2011-2021
3.3 The Oil Sands Mining Submarket Forecast 2011-2021
3.4 The Oil Sands In Situ Submarket Forecast 2011-2021
3.5 The Oil Sands Upgrading Submarket Forecast 2011-2021
4. The Leading National and Regional Oil Sands Markets
4.1 The Canadian Oil Sands Market Forecast 2011-2021
4.2 The Venezuelan Oil Sands Market Forecast 2011-2021
4.3 The United States Oil Sands Market Forecast 2011-2021
4.4 The Eurasian Oil Sands Market Forecast 2011-2021
4.5 The African Oil Sands Market Forecast 2011-2021
4.6 The Asia Pacific Oil Sands Market Forecast 2011-2021
4.7 The Middle Eastern Oil Sands Market Forecast 2011-2021
4.8 The Central and South American (Excluding Venezuela) Oil Sands Market Forecast 2011-2021
4.9 A Comparison of the National and Regional Oil Sands Markets in 2011, 2016 and 2021
5. SWOT Analysis of the Oil Sands Market 2011-2021
5.1.1 Job Creation and Income
5.1.2 Government Royalties and Taxes
5.1.3 High Oil Prices
5.2.1 High Refinery Costs
5.2.2 Capital and Energy Intensive Processes
5.2.3 Strict Regulatory Framework
5.2.4 Public Opposition
5.3.1 Transportation of Bitumen
5.3.2 New Technologies
5.3.3 Carbon Dioxide Sequestration and Lowering Energy Consumption
5.4.1 Fall in Oil Prices
5.4.2 Carbon Tax
5.4.3 Lending Framework
5.4.4 Harsh Weather Conditions
5.4.5 Pipeline Leakage Risks and Lack of Pipeline Capacity by 2015
6. Oil Sands Technologies
6.1 Strip Mining Techniques
6.2 Cyclic Steam Stimulation (CSS)
6.3 Steam Assisted Gravity Drainage (SAGD)
6.4 Combustion Overhead Gravity Drainage (COGD)
6.5 Vapour Extraction (VAPEX)
6.6 Electro-Thermal Dynamic Stripping Process (ET-DSP)
6.7 In Situ Combustion (ISC), Fire Flooding or Toe to Heel Air Injection (THAI)
6.8 Cold Heavy Oil Production with Sand (CHOPS)
6.9 Progressive Cavity Pump
7. Expert Opinion
7.1 Canadian Association of Petroleum Producers (CAPP)
7.1.1 Oil Sands Growth Expectations
7.1.2 Pipelining to the US
7.1.3 Pacific Pipeline Prospects
7.1.4 Challenges Facing the Oil Sands Industry
7.1.5 Opportunities for the Oil Sands Industry
7.1.6 Other Regions of the Globe with Oil Sands
7.1.7 Constraints Facing the Oil Sands Industry
7.1.8 Exploration Investments
7.1.9 Gaining Legislative Approval in Canada
7.1.10 Oil Sands Submarket Growth
7.1.11 Cost of Investment in Different Oil Sands Submarkets
7.2 E-T Energy
7.2.1 E-T Energy in the Oil Sands Market
7.2.2 ET-DSP™ Costs of Operation
7.2.3 Pros and Cons of ET-DSP™
7.2.4 Compatibility with Other In Situ Processes
7.2.5 Minimum Oil Price for Breaking Even
7.2.6 Fastest Growing Subsector
7.2.7 Energy Requirements
7.2.8 Drivers of Growth in the Oil Sands Industry
7.2.9 Factors Constraining Growth in the Oil Sands Industry
7.2.10 Key Trends in the Oil Sands Industry
7.3 SilverBirch Energy Corporation
7.3.1 SilverBirch Energy in the Oil Sands Market
7.3.2 Comparison of Mining and In Situ Capital Expenditure
7.3.3 Comparison of Operating Costs
7.3.4 Assessing Deposits of Oil Sands
7.3.5 Operating in Cold Weather
7.3.6 Refining Capacity
7.3.7 Acquiring Diluents and Condensates
7.3.8 Technological Progress Breaking Boundaries
7.3.9 Environmental Impact of the Oil Sands Industry
8. Leading Companies in the Oil Sands Market
8.1 Oil Sand Companies
8.1.1 Aecon Group
8.1.2 Alberta Oil Sands Inc.
8.1.3 Athabasca Oil Sands Corp.
8.1.4 Baytex Energy Corp.
8.1.5 BlackPearl Resources Inc.
8.1.6 BP Canada
8.1.7 Canadian Natural Resources Ltd. (CNRL)
8.1.8 Canadian Oil Sands Limited
8.1.9 Cenovus Energy Inc.
8.1.10 Chevron Canada Ltd.
8.1.11 Connacher Oil and Gas Ltd.
8.1.13 Deepwell Oil and Gas Inc.
8.1.14 Deloro Resources Ltd.
8.1.15 Devon Energy Corporation
8.1.16 Earth Energy Resources Inc.
8.1.17 EnCana Corporation
8.1.20 E-T Energy
8.1.21 Exco Resources Ltd.
8.1.22 ExxonMobil Corporation
8.1.23 Flint Energy Services Ltd.
8.1.24 Fort Hills Energy Limited Partnership
8.1.25 Grizzly Oil Sands ULC
8.1.26 Husky Energy Inc.
8.1.27 Imperial Oil
8.1.28 GreenRiver Resources
8.1.29 Ivanhoe Energy Inc.
8.1.30 Japan Canada Oil Sands Limited (JACOS)
8.1.31 Koch Exploration Canada ULC.
8.1.32 Korea National Oil Corporation (KNOC)
8.1.33 Laricina Energy Ltd.
8.1.34 Marathon Oil Corporation
8.1.35 MEG Energy Corporation
8.1.36 Mocal Energy Ltd.
8.1.37 Mullen Group Ltd.
8.1.38 Murphy Oil Corporation
8.1.39 Nexen Inc.
8.1.40 North American Energy Partners Inc.
8.1.41 Occidental Petroleum Corporation
8.1.42 Oilsands Quest Inc.
8.1.43 Opti Canada Inc.
8.1.44 Osum Oil Sands Corporation
8.1.45 Penn West Exploration
8.1.46 Petrobank Energy & Resources Inc.
8.1.47 PetroChina International Investment Company Ltd.
8.1.48 Petroleos de Venezuela, S.A. (PDVSA)
8.1.49 ProSep Inc.
8.1.50 Saipem SpA
8.1.51 Shell Albian Sands
8.1.52 Shell Canada Ltd.
8.1.53 SilverBirch Energy Corporation
8.1.54 Sinopec Corp.
8.1.55 Southern Pacific Resource Corporation
8.1.56 Statoil SAS
8.1.57 Suncor Energy Inc.
8.1.58 Sunshine Oilsands Ltd.
8.1.59 Syncrude Canada Ltd.
8.1.60 Talisman Energy Inc.
8.1.61 Teck Resources Ltd.
8.1.62 Tesoro Corporation
8.1.63 Titanium Corporation Inc.
8.1.64 Total SA
8.1.65 Value Creation Inc.
8.2 Directional Drilling & Engineering Companies
8.2.1 Allen Watson Ltd.
8.2.2 AMS No-Dig
8.2.3 American Augers, Inc.
8.2.4 Directional Drilling Contractors, LLC
8.2.5 Drillers Supply International Inc.
8.2.6 Precision Drilling Corporation
8.2.7 Worley Parsons Ltd.
8.3 Progressive Cavity Pump Producer Companies
8.3.1 Boerger Pumps
8.3.2 Larox Flowsys
8.3.3 Liberty Process Equipment, Inc.
8.3.4 LobePro Rotary Pumps
8.3.5 Lutz Pumps Inc.
8.3.6 Moyno, Inc.
8.3.7 NETZSCH Pumps North America, LLC
8.3.8 NOV Mono
8.3.9 Oberdorfer Pumps
8.3.11 Roper Pump Company
8.3.12 Roto Pumps Ltd.
8.3.13 Semler Industries Inc.
8.3.14 Shanley Pump and Equipment Inc.
9.1 The Outlook for the Oil Sands Industry
9.2 The Global and Submarket Oil Sands Forecasts 2011-2021
9.3 The National and Regional Oil Sands Forecasts 2011-2021
9.4 Concluding Observations
Notes for Editors
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