On March 1, Premier Brad Wall joined Husky Energy President and Chief Executive Officer Asim Ghosh and local dignitaries at an event celebrating the opening of the Edam East heavy oil thermal project, located near the Village of Edam.
The new plant, which has the capacity to produce 10,000 barrels of oil per day, is the first of three heavy oil thermal projects Husky will bring online this year. Each plant will create up to 30 permanent jobs and up to 250 jobs in the construction phase.
“We’re working hard to create the Saskatchewan advantage and we’re grateful for Husky’s commitment to our province,” Wall said. “Despite low oil prices, our province’s energy sector continues to attract billions of dollars in new investment. That’s another indication our diversified, resilient economy is weathering the economic uncertainty and continuing to create opportunity for Saskatchewan families.”
Since 2010, Husky has invested $8 billion in its Saskatchewan operations, including more than $3 billion building heavy oil thermal plants in northwest Saskatchewan. By the end of 2016, the company will operate 10 plants producing 80,000 barrels of oil per day.
Husky also operates a heavy oil upgrader and an ethanol plant in Lloydminster. The company employs approximately 1,000 people in Saskatchewan.
Husky’s investment is the latest in a number of announcements that indicate Saskatchewan’s energy sector remains strong despite weak oil prices.
Last month, R.I.I. North America Inc. (RII) announced the commissioning of a new $50 million enhanced oil recovery (EOR) project.
The STRIP Pilot Project, located southeast of Lloydminster, is the first production-scale test of technology intended to raise average recovery rates from five to 45 per cent in certain reservoirs.
Earlier this year, Crescent Point Energy announced a capital budget of between $950 million and $1.3 billion in 2016, with most of the money expected to be committed to Saskatchewan.
