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December 16, 2013
07:59 EDTIVANIvanhoe Energy learns AER intends to develop long-term policy
Ivanhoe Energy announced that it has learned that the Alberta Energy Regulator intends to develop a new long-term policy for reviewing shallow steam assisted gravity drainage applications in Alberta. Following discussions with each affected industry applicant, and by the end of January 2014, the AER plans to publish interim guidelines. Then, following extensive industry and stakeholder engagement, the AER will develop a long-term policy. This decision and process affects all shallow SAGD projects, not just Ivanhoe's Tamarack project. Ivanhoe will review the project and consider its next steps. The company will communicate those steps as soon as they are finalized. Ivanhoe believes that the Tamarack project is economically attractive and poses no operational, environmental or safety concerns.
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