What's happened?
SciDev Limited (ASX:SDV) has advised that its maiden Canadian oil sands trial is progressing, with chemistry product having been shipped from China to Alberta, Canada during the month of June.
What are the key highlights?
- The trial is anticipated to last for approximately two weeks and was initially scheduled to occur late in FY2020.
- The trial requires the mobilisation of SciDev’s staff to site to deliver the associated professional services and ensure a successful offering for Syncrude.
- COVID19 currently represents an unacceptable level of risk for SciDev employees travelling to North America therefore the trial is anticipated to commence in the second half of calendar year 2020.
- The Syncrude trial represents ~AUD$1m of revenue for SciDev which is anticipated to be realised in the second half of calendar year 2020.
- Fluid tailings management is an area of increasing regulation in the Canadian Oil Sands industry. Government agencies, such as the Alberta Energy Regulator, are introducing and tightening regulation around limiting the amount of fluids passing into tailings dams in order to manage and reduce environmental risk and liability.
For further information, please refer to the announcement linked below.
