According to newly breaking news from The Globe and Mail. Thailand's state oil producer is planning on going full steam ahead with plans to speed up development preparations for the Albertan Tar Sands.
"PTTEP and Norway’s Statoil said last week they will carve up their Kai Kos Dehseh joint venture in northern Alberta in a deal with would give the Bangkok-based company 100-per-cent ownership of three undeveloped leases: Thornbury, Hangingstone and South Leismer. Statoil will assume full control of the producing Leismer project and the next one that is set for construction, called Corner."
“In 2014, PTTEP plans the preliminary front-end engineering and design for the first production phase of the Thornbury field, as well as the preparation for seismic acquisition and drilling campaigns scheduled for 2014-2015,” spokesperson Vanduan Vijintanasarn said in an e-mail.snipThe statement shows the Thai company is not deterred from its three-year-old oil sands ambitions by rising costs, volatile prices for Canadian bitumen and uncertainty over the industry’s ability to boost pipeline capacity for exporting the crude to more lucrative overseas markets.
According to an Alberta government report from last autumn, the Thornbury field would produce 40,000 barrels of bitumen a day. An expansion phase would add 20,000 barrels a day.
