Despite initial concerns about the impact of the Kyoto Protocol, two Alberta oilsand developments are proceeding unhindered, while a third is citing Kyoto-related costs as only one of several factors in its decision to cut back plans.
Paris-based TotalFinaElf on Jan. 6 announced its acquisition of a 43.5% stake in the 544-sq-km Surmont oilsands permit as part of a joint venture with Houston-based ConocoPhillips. While regulatory approvals still are required, development of the estimated 5- to 10-billion-barrel permit could start by the end of this year and be operational by 2006, says ConocoPhillips Calgary spokesman Peter Hunt.