October 2, 2013
Japanese firms ink oilsands agreement
Japan Canada Oil Sands Limited (JACOS) has signed a deal with Toyo Engineering to provide Engineering, Procurement and Construction (EPC) service for their oilsands project at Hangingstone area near Fort McMurray, Alberta.
Japan Canada Oil Sands Ltd. (JACOS), a consolidated subsidiary of Japex, currently produces 6,000 to 7,000 barrels per day of bitumen at its Hangingstone Demonstration Project area.
The new facility will have the capacity to process an initial 20,000 barrels per day, which will be increased to 30,000 barrels after start-up of the operation.
Bitumen production will continue for around 30 years using the steam-assisted gravity drainage (SAGD) method, which has already been utilized at the Hangingstone Demonstration operation for more than 10 years.
The $774 million capital investment will be jointly made with Nexen Energy ULC, a wholly-owned subsidiary of China National Offshore Oil Corporation (CNOOC) Limited, which has 25 per cent stake in this project. JACOS holds a 75 per cent participating interest as the operator of the project. The project will include a steam generator, water de-oiling and treatment components, as well as storage.
It is scheduled for completion in the first half of 2016, which will be the first time JACOS has built and operated full sale commercial SAGD facilities.
The company will focus on undertaking oilsands life cycle management, which starts from the initial planning stage up to construction /commissioning /operation stage. They will also develop related new technologies such as water de-oiling, water treatment and partial upgrading.
TOYO Engineering Canada established a Construction Division within its organization in December 2012.
The Construction Division enables TOYO to deliver construction planning and execution management for its capital projects and to complete project EPC execution capability, combined with existing engineering and procurement capabilities.
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