(EnergyAsia, June 28 2011, Tuesday) — Canada could attract more than C$2 trillion worth of investments into its oilsands projects over the next 25 years, according to the Canadian Energy Research Institute.
The institute said investors that had postponed projects during the price crash of 2009 have revived plans to expand or upgrade.
In its latest forecast, CERI expects the country’s 1.7 million b/d oil sands production capacity to rise to 2.1 million b/d by 2015, 4.8 million b/d by 2030 and 4.9 million b/d by 2035.
When oil prices reached record high levels of over US$147 a barrel in 2008, CERI had projected oilsands production to exceed five million b/d by 2015, and over six million b/d by 2030.
A year later, the institute forecast production to reach 1.7 million b/d in 2015, 4.5 million b/d in 2030 and 5.3 million b/d by 2041.