BP/VCI – Terre de Grace Oilsands Field Development – Alberta - Project Profile

BP/VCI – Terre de Grace Oilsands Field Development – Alberta - Project Profile

Synopsis

"BP/VCI – Terre de Grace Oilsands Field Development – Alberta - Project Profile" contains information on the scope of the project including project overview and location. The profile also details project ownership and funding, gives a full project description, as well as information on contracts, tendering and key project contacts.

The "BP/VCI – Terre de Grace Oilsands Field Development – Alberta - Project Profile" is part of Timetric's database of 82,000+ construction projects. Our database includes a 10+ year archive of completed projects, full coverage of all global projects with a value greater than $25 million and key contact details for project managers, owners, consultants, contractors and bidders.

Summary

BP Canada Energy Company (BP) and Value Creation Inc (VCI) joint venture is planning to undertake the construction of oil sands project Alberta, Canada.

The project involves the construction of bitumen production facilities. It includes the drilling of horizontal wells, the construction of Steam Assisted Gravity Drainage (SAGD) facilities, storage facilities and on-site waste disposal system and a central processing plant, and the laying of pipeline.

Terre de Grace Field is expected to be developed in phases of approximately 40,000 to 80,000 barrels per day (BPD) which can be operated either sequentially or in parallel with significant growth potential to over 300,000BPD over the entire block.

On February 16, 2010, project received approval from Alberta Environmental Protection and Enhancement Act.

On March 15, 2010, partnership formed between BP and VCI and on March 23, 2010, project received scheme approval.

On March 10, 2011, project received extension of the construction start date to March 31, 2013.

On March 16, 2011, deferral of initial performance review meeting to January 2012. On June 30, 2011, submitted cap rock integrity report and maximum operating pressure.

In 2013, VCI transferred the project to its affiliate ViBrant Petroleum Ltd.

Appraisal activities are underway which includes delineation drilling, seismic acquisition and appraisal of water sources.

Scope

The project involves the construction of 40,000 to 80,000BPD of oil production facilities near Fort McKay, Alberta, Canada.

The US$4,000 million project includes the following:

1. Drilling of horizontal wells

2. Construction of SAGD facilities

3. Construction of a central processing plant

4. Construction of storage facilities

5. Laying of pipelines

Reasons To Buy

• Gain insight into the project.
• Monitor the latest project developments.
• Identify key project contacts.