Made-in-Alberta Solution will Effectively Manage Greenhouse Gas Emissions
CALGARY, Sept. 28 /CNW/ - North West Upgrading Inc. (North West), a
Calgary-based, privately-owned company building an independent, heavy oil
Upgrader in Alberta's Industrial Heartland, today announced an agreement with
Enhance Energy Inc., a Calgary-based company specializing in CO(2) enhanced
oil recovery, to supply Enhance with CO(2) for its EOR projects and for
"We are pleased to announce our arrangement with Enhance Energy," said
Robert Pearce, President of North West Upgrading. "As the first Upgrader in
Alberta to sign a CO(2) supply agreement for enhanced oil recovery, we believe
North West is the industry leader in effectively managing greenhouse gas
emissions from our operations. Our overall approach incorporates the best
available technology in minimizing effects on the environment, and we are
pleased to be able to show leadership by mitigating our CO(2) emissions with a
Once the remaining agreements, regulatory approvals, and the financing
are in place, North West's CO(2) will be used by Enhance Energy in an enhanced
oil recovery project at Fairborne Energy Trust's Clive oil fields in central
Alberta. Enhance expects to be the first company to implement a large scale
CO(2) enhanced oil recovery project in Alberta using Upgrader CO(2).
"The arrangement with North West Upgrading is important because it is the
first time CO(2) from an Upgrader will be sequestered, and the volumes are
quite significant," said Susan Cole, President, Enhance Energy. "We are proud
to be part of a group of proactive Alberta companies like North West who are
taking action to sequester large quantities of CO(2)."
Both provincial and federal governments recognize the importance of
geologic sequestration (also known as Carbon Capture and Storage) as an
important means to significantly reduce green house gas emissions. North West
and Enhance believe this project supports the government's plans to recognize
value through emissions' credits and offsets, which is an important component
of the business arrangement for both companies. As a point of reference,
sequestering North West's CO(2) will be the equivalent of taking approximately
250,000 cars off the road.
North West received regulatory approval from the Alberta Energy and
Utilities Board (EUB) for the North West Upgrader Project September 6, 2007.
About North West Upgrading
North West Upgrading Inc. is a Calgary-based, privately-owned company
committed to building an independent, heavy oil upgrader in Alberta's
Industrial Heartland. The Upgrader will significantly increase the economic
value of Alberta's bitumen and heavy oil production by producing light, low
sulphur products such as Ultra Low Sulphur Diesel and diluent. The Upgrader
will have a total processing capacity of 231,000 barrels per day of blended
feedstock over three phases. North West plans for start up of the first phase
in 2011. All three phases are expected to be operating by 2015.
About Enhance Energy Inc.
Enhance Energy Inc. is a Calgary-based company that specializes in
environmentally friendly secondary and tertiary oil and gas recovery projects.
Enhance is developing a number of CO(2) projects in Southern Alberta for both
enhanced recovery and sequestration. Enhance Energy works with the owners of
existing reservoirs as a technical partner and capital provider to recover
greater quantities of oil from existing reservoirs that are reaching the end
of their economic life under primary recovery. To learn more please visit
About Fairborne Energy Trust
Fairborne Energy Trust is a Calgary-based oil and gas trust engaged in
the business of developing, acquiring and producing crude oil and natural gas
in Western Canada. Fairborne follows a strategy of balancing risk and reward
by focusing on opportunities by geographic area and prospect type. The Trust's
mandate is to generate stable, monthly distributions while maintaining a solid
production base. To learn more please visit: www.fairbornetrust.com.
For further information:
For further information: Shauna MacDonald for North West Upgrading, P:
(403) 538-5645, C: (403) 585-4570, firstname.lastname@example.org