Shell targets hike in oil sands output - June 25, 2006

Providing coverage of Alaska and northern Canada's oil and gas industryJune 2006

Vol. 11, No. 26

Week of June 25, 2006

Shell targets hike in oil sands output

Gary Park

Having locked up 92.8 percent of BlackRock Ventures and completed its C$2.4 billion takeover of the company, Shell Canada has its eye on boosting production from the junior producer to 30,000-50,000 barrels per day.

Shell is also considering two 50,000 bpd expansion block options at its existing Peace River operations, which are alongside BlackRock’s holdings.

Operating through wholly-owned BR Oil Sands, Shell expects to decide4 by 2007 whether to enlarge the Peace River facilities, which currently produce 8,000 bpd.

BlackRock’s current output from Pace River and Cold Lake in Alberta is 20,000 bpd.

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