Albertas oil sands have been mined for bitumen, which is upgraded to low sulfur synthetic crude. Due to increase in US oil production, the breakeven price of 100$/ barrel is getting tough to best. So some expansion plans put on hold
But long term potential intact. By 2020 oil companies CAPEX outlays expected to reach $25 billion up from 15 billion in 2009. Oil sands output should double from 2011 level of 1.6 million barrels a day. Half coming from the more expensive low sulfur synthetic oil.
Due to intense competition labor costs have soured for building running and remotely operating mining and manufacturing facilities. Pay for engrs and technicians have skyrocketed. Sr geoscientist gets 231000$ a year. Truck drivers can make 170000$ per year with overtime.
I would just warn potential applicants that a lot of these jobs are in places like Fort McMurray, north of Calgary, where it gets incredibly cold in the winter. Buyer beware lol.
Haha true, but even stepping out for a few minutes in a Canadian winter will result in frozen hands. The worst is getting up in the morning in the dead of winter. It sucks.
Prepare to live in camps. No socializing. Work, Eat, Sleep. Repeat.
Not true. You might have 10 days of work (10-12 hours) followed by 10 days off, but you do have time off. You do however give up the chance to live in a real city as you do live in a company compound.
^and ofcoz the ppl who work there do earn LOTS of money...BUT because a lot of them are young they just blow it away as well...which is really sad to see!!!!
So if anyone wants to work there, then please dnt blow your money away, you might think you are being funny and smart...but it would be smarter if you saved all of that up!
now, the shift has taken place. once the poorest province of Canada, Newfoundland and Labrador, is booming with oil-related progress. they have huge reserves in their territory. that province is the ONLY province in Canada which has surplus budget. :)