Japex Won’t Reopen Alberta Oilsands Pilot Project Closed in 2016 Wildfires
Tokyo-headquartered Japan Petroleum Exploration Co. (Japex) is not restarting its oilsands pilot project shut down last year during the wildfires near Fort McMurray, Alberta. Japex says it has decided to abandon the project due to low oil prices and technical risks of restarting the steam-injection wells. The pilot project had been in operation since 1999 through a subsidiary called Japan Canada Oil Sands Ltd. and produced a total of 35 million barrels of bitumen. Japan Canada Oil Sands Ltd. also operates the Hangingstone oilsands project in the same area. The projects are 25 per cent owned by Nexen Energy, a subsidiary of China National Offshore Oil Corp.