Cenovus is getting the go-ahead for its Grand Rapids thermal oilsands project.
The company says the Alberta Energy Regulator approved the project which is about 300 km north of Edmonton.
Cenovus says it will eventually make 180-thousand barrels of oil a day, and have a life of 40 years.
It says it’ll decide on its development timing later in the year and it’ll cut costs by using infrastructure, like roads, power sources and camps, already at the site
Cenovus has stakes in two steam-driven oilsands projects – Foster Creek and Christina Lake that together produce 240-thousand barrels of oil a day.
