Choose Language

Contact Us

Contact An Expert


Course Details

Back to Course Listing

Petroleum Economics / ECON-03 / 0.5 day

Economics of Developing Heavy Oil & Bitumen Assets

Miles Hughes P.Eng.

Senior Petroleum Engineer and Manager, Strategic Advisory



This short course is an introduction to the economic viability of heavy oil and bitumen development. The material is based on current events, including commodity prices, the Alberta pipeline situation, developing greenhouse gas (GHG) legislation/regulations and the social sentiment regarding ongoing development.


  • Canadian heavy oil as a valuable resource
  • Size of the resource
  • Impact on Alberta and Canada
  • Current economic state
  • Technical overview and economic evaluation considerations
  • Recovery schemes
  • Unique aspects from an evaluation perspective
  • Criteria of a good project
  • Requirements to see future development
  • Clear demand for more energy exists
  • Growth dependence on:  
    • GHG legislative caps
    • Export capacity
    • Improving profit margin

Designed for

A broad audience looking for general knowledge about the economic situation facing bitumen producers and the province of Alberta.