The provincial government is showing their support for an oilsands project north of Conklin.
They announced on Thursday they’ve approved Grizzly’s May River oilsands project in order to attract new investment and create jobs for Albertans.
The company can now advance with the next stages of development which includes making final investment decisions and applying for environmental licences and local area development permits.
“This project is in the best interest of Alberta and is another example of how we are responsibly developing our resources,” said Sonya Savage, Alberta’s Energy Minister, in a release.
“Moving these projects forward shows that Alberta is open for business, and we are dedicated to encouraging investment in our province.”
The proposed project would produce around 12,000 barrels of bitumen per day, using team-assisted gravity drainage technology.
The province adds they’ve did a stringent review of Grizzly’s development plan which gave them confidence to recommend that it be approved by cabinet.