Once fully operational in 2012, Jackfish-2 will produce about 35,000 barrels of oil per day through a recovery method known as steam assisted gravity drainage (SAGD). Over the life of the project, Devon expects to recover about 300 million barrels of oil from Jackfish-2.
Devon is currently ramping up production at its original Jackfish project. Jackfish, which commenced operations in 2007, is expected to reach its full production capacity of 35,000 barrels of oil per day in the first half of 2009. Jackfish is about four miles east of the Jackfish-2 site in northeastern Alberta.
John Richels, president of Devon, said: We are very pleased to have approvals in hand so we can move forward with our second SAGD project. The Canadian oil sands are an important resource we need to tap into to meet the future energy needs of North America. Through the use of SAGD technology, we believe we can access the resource in a way that is efficient and environmentally responsible.
