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Nexen invests $400M in Long Lake facility

A sign at Nexen Energy's Long Lake facility near Fort McMurray. THE CANADIAN PRESS/Jeff McIntosh

Nexen Energy is investing $400-million into their Long Lake Oilsands Facility.

The Alberta Energy Regulator has approved the construction of three well pads that will add an additional 26,000 barrels of oil per day.

Nexen said in a press release that the wells will operate on a lower steam-to-oil ratio, which will help the oilsands facility improve their GHG performance.

Construction is expected to begin this summer and first oil is anticipated in late 2020.