In-Situ Bitumen Production to Create $41 Billion Canadian Infrastructure Market
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 04/23/12 -- The Canadian upstream industry for in-situ (well) production of will generate cumulative infrastructure orders of roughly $41 billion (U.S.) through the next ten years (2012-2021, according to the findings in a new research report, "," just released by SBI Energy. The components of infrastructure orders include equipment, fabricated vessels and structures, and bulk products.
"Canadian production of bitumen and heavy is averaging approximately 2.4 million barrels a day in 2012 and is projected to pass 3.0 million barrels a day in 2016," says Emil Salazar, SBI analyst and author of the report. "Approximately 70% of future oil sands production growth will be realized through in-situ production of bitumen, which will see cumulative five-year capital expenditures (CAPEX) of $50 billion."
The 2011-2021 compound annual growth rate (CAGR) of 3.8% for global unconventional crude oil production will see the Americas continue to dominate global production of bitumen, and heavy and extra-heavy crude oil, with continued growth in the Canadian and the expansion of heavy and extra-heavy crude oil production in Venezuela and other Latin American countries. Outside of the Americas, Middle Eastern expansion of heavy crude oil production will represent a significant development, more than doubling unconventional crude oil production in the region through 2021.
The report's market focus is timely, as global production of unconventional crude oil is projected by SBI Energy to expand at a faster rate than light and medium crude oils through 2018. Conventional light and medium crude oil reserves are estimated to represent only 30% of total remaining petroleum resources, with heavy crude oil, extra-heavy crude oil and bitumen representing 70% of remaining reserves recoverable through existing, viable production techniques and technologies.
"" takes a detailed look at unconventional crude oil development and production, providing historical and forecast (2007-2021) production rates by resource type and country (Canada, United States, Venezuela) or region (Latin America [excluding Venezuela], the Middle East, Russia and Central Asia, Asia-Pacific, Africa, and Europe); historical and forecast development and production CAPEX volumes for unconventional crude oil by country or region; historical and forecast infrastructure markets for well fields, production facilities, subsea fields, and offshore topsides by country or region; historical and forecast upgrader facility expenditures for synthetic crude oil production in Canada and Venezuela; and market breakouts for the leading Canadian oil sands infrastructure market by well pad infrastructure, oil treating systems, water treating systems, steam generation systems, and cogeneration equipment.
SBI Energy, a division of MarketResearch.com, publishes research reports in the industrial, , building/construction, and automotive/transportation markets. SBI Energy also offers a full range of custom research services. To learn more, visit .
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Datum: 23.04.2012 - 15:30 Uhr
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