Added Non-proved Resource And for non-proved resources, our growth over the same period is more significant. And the quality of our resource base enables sizeable and profitable upstream volume additions. This new oil production show in light blue is equal to several times the production of Saudi Arabia.
We also employ a systematic approach to measuring performance and seeking continuous improvement across our business. And this area will ultimately business plan presentation script opening reclaimed.
Such results are achieved through the rigorous application of established best practices, a culture of continuous improvement and relentless focus on day to day details. InImperial Oil and ExxonMobil signed a management services agreement with the Syncrude owners in order to bring global best practices to bear on the Syncrude operation.
These technologies will allow us to continue our trend of increasing recovery at Cold Lake, shown in the blue bars, and will also provide the basis for the development of other in-situ assets in the area. That encompasses actions to reduce water use, spills and releases.
First and foremost are risks associated with safety, security and the environment.
Developed economies will also need energy for continued economic growth but increased energy efficiency will likely keep OECD demand flat.
Imperial has delivered superior returns to shareholders for over two decades. For example, energy costs would be much lower because the need for hot water would largely be eliminated.
The benefits are significant and have resulted in material reductions in unscheduled downtime. We continue to gather data with extensive seismic and drilling programs across many of these leases annually. Facts on land use. In our current operations and as we develop projects for the future, we will continue working to Protect Tomorrow.
At Imperial, we have implemented rigorous environmental management programs that deliver ongoing improvement in our environmental performance. The fear of losing a top staff member or important customer is also played upon by suggesting that they could be the individuals having a negative hotel experience.
We should have time for your questions at the end before we finish up around While our reserve additions tend to come in large chunks, we have a history of growing our reserves over the long term.
Unless otherwise specified, all figures are in Canadian dollars. In the downstream, all of our refineries have associated Chemical or Lubricants facilities.
OIMS enables us to measure progress, ensure management accountability for results and establishes common expectations for controlling operational risk.
Imperial has produced over 1 billion barrels at Cold Lake and clearly have decades of production yet to come. Gas is abundant, clean and affordable and will become increasing desirable as a primary form of energy.
Gas is attractive because of its environmental benefits, large resource base and flexibility as an efficient fuel, particularly for power generation.
Some facts on water use in our industry. Public Advocacy - Oil Sands Development We are also getting better at talking to stakeholders and responding to critics. The demand for natural gas is growing in North America and around the world, as Bruce noted earlier, and Imperial is well positioned to become a major player in the North America gas market over the next years and decades.
And advanced tailings separation technologies will allow greater recycling of water and will reduce freshwater demand. Oil Sands - In-situ and Mining On this chart, you can see how oil sands production, both mining and in-situ, have played an increasingly important role for the company across the decades.
In the downstream, all of our refineries have associated Chemical or Lubricants facilities. As a result, we benefit from their management systems. These items underpin our strategies and will provide company growth in the long-term and better performance than our peers in the short-term.
Before we begin, I would like to take a moment to review some safety information. A full field development at Horn River will involve thousands of wells, and the key to developing a premier asset is to be a low cost operator.
Bruce will now talk about our Downstream and Chemical business segments. Kearl is advantaged by the highest quality resource, the application of proprietary technology and a disciplined, phased approach to achieve a low unit development cost.
We delivered strong financial and operating results. If the alert fire alarm tone sounds, we will stop the presentation, prepare to evacuate and wait for instructions. Need help with your speechwriting?
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6 Energy Deregulation The Wave Is Coming A big wave of opportunity is coming! Where energy is being deregulated to allow competition, energy monopolies are being broken up, and customers have the right to choose their energy provider.
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