The project will expand upgrading capacity as well as increase production of clean transportation fuels for the US Midwest market. The Coker and Refinery Expansion (CORE) project is estimated to cost a total of about $1.8 billion net to EnCana and is expected to be completed over the next three years.
The Wood River refinery expansion recently received final regulatory approvals to start construction. The CORE project is expected to be in full operation in 2011.
In parallel with the Wood River refinery expansion, the integrated oil venture has approved upstream expansions at Foster Creek and Christina Lake in the Canadian province of Alberta where EnCana expects gross bitumen production capacity will grow from the current level of 70,000 barrels per day to about 180,000 barrels per day in 2012. Further expansions are planned to increase production capacity to 400,000 barrels per day by 2016.
Brian Ferguson, CFO of EnCana, said: The CORE project will transform Wood River into a more modern, efficient refinery producing a high proportion of clean transportation fuels in the heart of one of North America’s largest consumer markets.
