DocBoss has its roots in the Canadian oil sands and many of our first customers in both Canada and the US do significant work there. To see a list of select DocBoss customers, check out our homepage and view the “Our Clients” scroller to learn more.

A recent article in Oil & Gas Journal projects that oil sands production should begin to rise even in spite of continued depressed oil prices. In particular, oil sands projects that are already under way are expected to increase oil production for the next 5 years regardless of the price of oil. While new projects aren’t expected to be announced until the price of oil rebounds – to $80/barrel by 2020 according to the International Energy Agency (IEA) – current production increases will help to offset the delay in new projects.

IEA expects prices will begin rising significantly in 2017, when declines in non-OPEC production and growing global demand bring the market back into balance. It predicts prices will rebound to $80/bbl by 2020.

IEA Executive Director Fatih Birol goes on to comment on oil sand profitability as oil prices begin to recover.

Birol said most oil sands projects would be profitable at $80/bbl. During 2015-2020, IEA suggests oil sands production will grow by 800,000 b/d, and then pause after 2020 while producers regain confidence to make new investments.

Birol also suggests that the oil sands industry can meet Canadian emission guidelines with proper investment in technology while they continue to increase production. Otherwise they will continue to meet opposition and political pressure to new investment in infrastructure.

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