Our acquisition of a large oil sand deposit further west in Canada has been the subject of much debate and criticism, both in Norway and internationally.
Producing and refining oil sands are more energy-intensive than for conventional oil, and production involves major interference with the landscape in some cases.
The latter applies particularly to shallow deposits extracted by open-cast methods, but our oil sand holdings lie so deep that they will be produced with drilling. This has much less of an impact on the landscape than traditional open case pits.
Our water strategy, ambitions for reducing carbon emissions, creation of a research centre and programme for monitoring fauna show that we take responsibility for sustainable development in Canada. You can learn more about this through text, animation and film in our web version.
On a global basis, oil sands could account for as much as two-thirds of remaining petroleum resources. Canada’s huge resources of this type of crude have long been known, but the industry has not shown much interest because recovery costs are high and oil prices have been too low. This is changing as prices rise.
Choosing sustainable solutions throughout the value chain will be important. That primarily means a focus on minimum use of water resources required by the permanent population and keeping energy consumption in the production process as low as possible, which will also help to reduce carbon emissions.
We have started a comprehensive project in which we will study all possible options for reducing or offsetting carbon dioxide emissions. This study will form the basis for our carbon dioxide strategy Specific measures will be continuously assessed in relation to the development of the project.