97% of the growth in oil demand
(+1% p.a.) is driven by transport

With global demand for energy on the rise, world oil supply is expected to peak by around 2030. To meet this demand, it is essential to access undeveloped unconventional resources. Extra-heavy oil and oil sands are significant resources, and their production will help to drive the global economy.

The stakes associated with bitumen are very high, with between 500 billion and 1 trillion barrels of potential reserves worldwide, an amount comparable to the nearly 750 billion in estimated reserves held by all of the OPEC countries combined.

Oil sands & heavy oil worldwide

Extra-heavy oil resources are found primarily in Venezuela’s Orinoco belt, while oil sands are mainly located in Canada, in northern Alberta.

See Surmont project (Canada)

See PetroCedeño project (Venezuela)