The approval further demonstrates the government’s commitment to keeping energy projects moving forward.
Grizzly can now advance the project to the next stages of development, including making a final investment decision and applying for other environmental licences and local area development permits.
The proposed project would be located northwest of Conklin, between Fort McMurray and Lac La Biche, and produce approximately 12,000 barrels of bitumen per day. It would extract bitumen using steam-assisted gravity drainage technology, which minimizes a project’s environmental footprint.
“This project is in the best interest of Alberta, and is another example of how we are responsibly developing our resources. Moving these projects forward shows that Alberta is open for business, and we are dedicated to encouraging investment in our province.”
The Alberta Energy Regulator has done a stringent review of Grizzly’s development plan, known as a scheme application, and recommended that it be approved by cabinet.
This is the third project recently approved by government.