The JACOS Hangingstone SAGD Demonstration facilities are located on Lease OSL70, approximately 50km southwest of Fort McMurray and 25km west of the community of Anzac. Access is from Highway 63 and our site is within 5 kilometers of the highway. JACOS is the operator of the Hangingstone project.
In May, we temporarily suspended bitumen production at our Demo facility in response to the low price environment. The specific timing of re-starting the production operation has not yet been determined. The decision will be made based on comprehensive evaluation factors such as; expected future oil price trends, and reservoir conditions during the suspension period. Please refer to JAPEX’s media release for more information.
The Hangingstone Expansion project is nearing completion, with production anticipated to start-up in 2017.
JACOS has been operating the DEMO plants since 1999. The operations provides approximately 6,000 barrels per day of bitumen production from 24 well pairs. The total recoverable resources are estimated at 50 million barrels with a project life of approximately 25 years.