Nexen is a Major Player in the Oil Sands
In recognition of the value of Canada’s oil sands as a secure and reliable energy source, Nexen took steps to acquire significant land holdings in northern Alberta to ensure our long-term future as an oil sands producer.
Today, Nexen has an interest in more than 300,000 acres in the Athabasca region. To economically develop our oil sands holdings, we’re taking a phased approach.
Long Lake, which began producing in 2008, is an integrated SAGD and upgrading operation that uses a proprietary OrCrude™ technology as well as hydrocracking and gasification to produce Premium Synthetic Crude (PSCTM) oil. Production capacity at Long Lake is 72,000 barrels of bitumen per day.
Nexen’s most recent well pads are located 12 kilometres south of our Long Lake facility. The first production from these pads came on stream in 2014; the bitumen is processed and upgraded at Long Lake.
Nexen is currently working on future stand-alone SAGD development in this area of Long Lake.
Syncrude Canada Ltd
Nexen has a 7.23% interest in Syncrude’s oil sands mining and upgrading facility, located about 40 km north of Fort McMurray, Alberta.
Nexen manages equity interest in MEG Energy,a Canadian oil sands developer.
Nexen has a 25 per cent non-operating working interest in this SAGD joint venture project, being developed by Japan Canada Oil Sands (JACOS). Production is expected to begin in 2017.
Nexen is strategically positioned for future in-situ oil sands development, with land holdings in a number of Athabasca prospect areas including operated leases at Leismer and Cottonwood and non-operated leases at Meadow Creek, Thornbury, Stony, Corner and Chard.