CALGARY, Alberta, March 20 The 180,000 barrel
per day Grand Rapids oil sands project planned by Cenovus Energy
Inc, Canada's No. 2 independent oil producer, received
Alberta government approval on Thursday, the province said in an
Located 300 kilometers (186 miles) north of Edmonton, the
project will use solvent-assisted and thermal technology to
produce heavy crude. Steam and a solvent are pumped down a well
to liquefy the tarry bitumen which is then pumped to the surface
through a second well.
Cenovus, which could not be immediately reached for comment,
plans to build the project in phases over the next decade,
beginning with 100 well pairs and rising to 2,500 when
construction is complete.
Cenovus shares rose 36 Canadian cents to C$29.96 on Thursday
on the Toronto Stock Exchange.
(Reporting by Scott Haggett; Editing by Phil Berlowitz)