Alberta's reserves 2002 and supply/demand outlook 2003-2012 : crude bitumen, crude oil, natural gas and liquids, coal, sulphur

In this document, stake holders find reliable information concerning the state of reserves, supply, and demand for Alberta's energy resources such as bitumen, crude oil, natural gas, natural gas liquids, coal, and sulphur. Estimates of initial reserves, remaining established reserves, and ultimate potential were also included in the report, along with a 10-year supply and demand forecast for Alberta's energy resources. The development of Alberta's energy resources depend on factors such as reserve supply, costs of development, energy demands, conservation, and social, economic and environmental considerations. The energy development landscape in 2002 was determined in large part by changes in energy prices, drilling activity, and planned investments in the range of billions of dollars in oil sands projects. For the first time in 2001, conventional crude oil production was surpassed by raw bitumen production, and this growth continued in 2002. During 2002, 48 per cent of the province's crude oil and equivalent production was in the form of non-upgraded bitumen and synthetic crude oil production. This growth can be explained by increased bitumen production from oil sands mining. Levels similar to those of 2001 were achieved for in situ bitumen production. Approval was recently granted for several steam-assisted gravity drainage (SAGD) schemes, and many are currently under review by the Alberta Energy and Utilities Board (EUB). Higher volumes of commercial production are expected from those schemes in future years. Decline in natural gas production in 2002 was due to less drilling activity, but this is expected to increase in 2003. For the remaining forecast period, production is expected to decline. Continued growth in coalbed methane (CBM) development activity is expected for 2002 and for the next few years. In response to this increased activity, the EUB will begin to calculate CBM reserves. 31 tabs., 66 figs., 3 appendices