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In-situ oil sands extraction to exceed mining by 2015

Pictures of big open pit mines will soon paint an inaccurate picture of the oil sands.

A new forecast from the Canadian Association of Petroleum Producers says pit-mining will make up a minority of oil sands production by 2015; a year earlier than its last report predicted.

That’s because of the rise of in-situ mining like steam assisted gravity drainage.

Peters and Company says those methods have hit a new high of 750 thousand barrels per day; with the biggest contributor being Suncor’s firebag plant whose production rose to 100 thousand b-p-d.

Published June 15, 2012