ConocoPhillips recognizes that human activity, including the burning of fossil fuels, is contributing to increased concentrations of greenhouse gas emissions in the atmosphere that can lead to adverse changes in global climate. While uncertainties remain, we continue to manage greenhouse gas emissions in our operations and to integrate climate change related activities and goals into our business planning.
Steam generation at Surmont began in June 2007 and first oil production occurred in October 2007. The absolute, direct greenhouse gases at the facility have been increasing since it came online in 2007 due to increasing production, but the intensity of those emissions has now stabilized. The next phase of our Surmont development is currently under construction and is on schedule to commence pre-steaming in early 2015. As with the first phase of Surmont, we expect the GHG intensity to increase significantly during the heating of the reservoir. After the initial steaming period the bitumen will start to flow and the GHG intensity will decrease to expected levels. To view the historical emission levels graph, click here.
We continue to work with provincial and federal governments to develop greenhouse gas regulations that are both environmentally and economically effective.
The production of oil from the oil sands generates more greenhouse gases on an intensity basis than the production of conventional oil. We believe technology will be the key to lowering these emissions. We are committed to managing greenhouse gas emissions in a manner that is environmentally and economically effective. ConocoPhillips’ full full climate change position can be found on the company’s website.