CALGARY — Imperial Oil Ltd. says it will go ahead with its $2.6-billion Aspen oilsands project.
Construction will begin this year, with the project expected to start up in 2022.
The Aspen project, located about 45 kilometres northeast of Fort McMurray, Alta., is expected to produce about 75,000 barrels of bitumen per day.
It will use new oilsands recovery technology designed to lower greenhouse gas emissions’ intensity and water use.
Imperial says the technology is estimated to reduce the intensity and water use by up to 25 per cent, compared with traditional steam-assisted technology.
The Aspen project is expected to create about 700 jobs during peak construction and more than 200 jobs during operations.
The Canadian Press