Alberta's reserves 2001 and supply/demand outlook 2002-2011 : crude bitumen, crude oil, natural gas and liquids, coal, sulphur

This document provides stakeholders with a reliable source of information on the state of reserves, supply and demand for Alberta's energy resources including crude bitumen, crude oil, natural gas, natural gas liquids, sulphur and coal. The report also includes estimates of initial reserves, remaining established reserves, and ultimate potential. A 10-year supply and demand forecast for Alberta's energy resources is also presented. The economic factors that determine the development of Alberta's energy resources depend on resource supply, development costs, energy demand, conservation and environmental and social considerations. Energy development in 2001 was driven in part by changes in energy prices, drilling activity and planned investments of billions of dollars in the oil sands projects. Production of raw bitumen exceeded conventional crude oil for the first time in 2001, with the first commercial steam-assisted gravity drainage (SAGD) production. Several SAGD schemes have been approved and more are under review. Although natural gas production is expected to decline in the second half of the forecast period, interest in coalbed methane development will likely increase. Alberta has the largest oil sands resource in the world, with nearly 50 billion cubic meters that are potentially recoverable. Alberta's remaining established reserves of conventional crude oil was estimated at 278 million cubic metres. 35 tabs., 55 figs., 3 appendices