ExxonMobil’s Cold Lake Project Expansion Starts Production
Exxon Mobil Corporation (NYSE:XOM) announced that bitumen production began on schedule at the $2 billion Cold Lake Nabiye project expansion in northeastern Alberta, Canada.
The expansion is producing about 20,000 barrels per day and volumes are expected to increase during the year to peak daily production of 40,000 barrels. Nabiye will access 280 million barrels of recoverable resources during its expected 30-year lifespan.
“ExxonMobil has the project management experience, engineering expertise and effective contractor interface to deliver superior cost and schedule performance along with safe, reliable facilities that will operate for decades,” said Neil W. Duffin, president of ExxonMobil Development Company. “Nabiye will contribute important new production to ExxonMobil as we continue to bring new projects on line.”
Source: Exxon Mobil Corporation