A novel technique could redefine sustainable development
June 01, 2012
Bruce March was speaking at an investor meeting in Toronto this winter, when in the middle of a presentation that focused on Imperial Oil Ltd.’s reserve base and ambitious growth plans, he uttered the words “non-aqueous extraction.”
“This technology would be a huge breakthrough from a number of perspectives,” the president, chairman and CEO of the Calgary-based company told the crowd.
“Energy costs would be much lower because the need for hot water would be largely eliminated. And it would eliminate the need for fluid tailings ponds altogether. This is only one example of our company’s focus on responsible development of Canada’s oil sands, and how the ongoing use of technology to develop one of the world’s largest recoverable energy resources is being developed.”