Oilsands output to triple by 2020
Canadian oil production is expected to increase to at least 4.5 million barrels a day by 2020 from 2.7 million in 2007 under "moderate growth" assumptions, the Canadian Association of Petroleum Producers said Wednesday.
A faster growth case, developed to help pipeline planners anticipate the needs for additional pipelines to the U.S. and perhaps Eastern Canada, forecasts production of five million barrels a day (b/d) in 2020.
In both cases, oilsands will account for an increasing share of the total as conventional production from Western Canada and the Atlantic offshore declines, the industry group said.
Oilsands production under the moderate growth assumptions will reach 3.5 million b/d in 2020, triple the 1.2 million b/d last year but down from four million predicted in the 2007 forecast.