The provincial government is approving a new oil project south of Fort McMurray.
The GoA announced on Tuesday they’re giving the green light to MEG Energy’s Surmont Project development plan.
The project would produce around 120,000 barrels per day while using SAGD technology.
“Through this approval, we are showing our support for industry-led investment in Alberta – particularly when the proponent has undertaken extensive planning and clearly demonstrated its economic viability,” said Sonya Savage, Minister of Energy, in a release.
The project had gone through an approval process with the Alberta Energy Regulator before being brought towards the government.
This decision will allow MEG Energy to proceed to the next stages of development which includes investment decisions, as well as applying for environmental licenses and local area development permits.