Fri Apr 30, 2010 1:58am EDT
TOKYO (Reuters) - Japan Petroleum Exploration (1662.T: Quote) (Japex) said on Friday it has asked for Canadian government approval to expand bitumen output from the Hangingstone oil sand project by up to 35,000 barrels per day.
The Hangingstone oil sands are currently producing about 7,000 bpd of bitumen, and the expansion is expected to increase output by an average 25,000 to 30,000 bpd, Japex said.
Japex said that approval may take about a year and a half, and that it could begin output by late 2014 if it receives approval in the autumn of next year.
A Japex subsidiary owns a 75 percent stake in the project, while Nexen Inc (NXY.TO: Quote) has the rest.
(Reporting by Osamu Tsukimori)
Source: http://ca.reuters.com/article/businessNews/idCATRE63T0SO20100430
TOKYO (Reuters) - Japan Petroleum Exploration (1662.T: Quote) (Japex) said on Friday it has asked for Canadian government approval to expand bitumen output from the Hangingstone oil sand project by up to 35,000 barrels per day.
The Hangingstone oil sands are currently producing about 7,000 bpd of bitumen, and the expansion is expected to increase output by an average 25,000 to 30,000 bpd, Japex said.
Japex said that approval may take about a year and a half, and that it could begin output by late 2014 if it receives approval in the autumn of next year.
A Japex subsidiary owns a 75 percent stake in the project, while Nexen Inc (NXY.TO: Quote) has the rest.
(Reporting by Osamu Tsukimori)
Source: http://ca.reuters.com/article/businessNews/idCATRE63T0SO20100430
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