Government’s approval of the MEG Energy Surmont development plan shows its commitment to supporting investment by moving projects forward in Albertans’ best interests.
This is an important step in the approval process, as it allows MEG Energy to proceed to the next stages of development, including making a final investment decision and applying for other environmental licences and local area development permits.
“Through this approval, we are showing our support for industry-led investment in Alberta – particularly when the proponent has undertaken extensive planning and clearly demonstrated its economic viability.”Sonya Savage, Minister of Energy
Before being submitted for government approval, these development plans – also known as schemes – require stringent approval by the Alberta Energy Regulator, which conducts a detailed review of the application.
- Once operational, the MEG Energy Surmont project will produce approximately 120,000 barrels of bitumen per day.
- The project will extract bitumen using steam-assisted gravity drainage.
- The project is in the Regional Municipality of Wood Buffalo, approximately 80 kilometres south of Fort McMurray.
This approval is another example of how the government is ensuring Alberta remains a great place to invest and do business. Other efforts include cancelling the provincial carbon tax, reducing the corporate tax rate and passing the Royalty Guarantee Act.