“His ‘no’ was expected. Nevertheless, there are clear expectations that the pipeline will come about, and we believe it will happen,” Statoil executive VP and CFO, Torgrim Reitan, tells Aftenbladet.
TransCanada has been trying hard to get construction permission for its Canadian-US-Gulf of Mexico Keystone XL oil pipeline in the past few years.
Protesters fear the project, that could cost as much as 40 billion kroner, will make the US more dependent on the environmentally and health hazardous oil.
Nevertheless, Torgrim Reitan asserts, “our tar sands operation in Canada is progressing. The Leismer project had a good start-up and production is increasing”.
Leismer’s first oil yield was in January 2011, and there are plans to step production capacity up to the expected 18,000 barrels-a-day within the next 24 months.
Statoil’s four Canadian production licenses under its Kai Kos Deh tar sands project in the Athabasca region, northeast Alberta, consist of Leismer, Corner, Hangingstone, and Thornberry.
“The expansion of the Corner project is up next, where we will once again be using our own technology,” concludes Mr Reitan.
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"The Leismer project had a good start-up and production is increasing," says Statoil CFO torgrim Reitan.
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