The Value Creation Group is focused on building the fundamental strengths to underpin its vision. The member companies are focused on research and development in upgrading, building a strong oil sands resource position and executing their business strategy. The Group holds significant oil sands properties in Alberta, proprietary oil sands technologies and an approved major upgrader project at the pivotal logistics hub of Heartland, near Edmonton.
Value Creation Inc.
VCI’s extensive resource base positions VCI to become a major oil sands player. The wholly own oil sands resources cover 458.5 square miles (including BP interest at the Terre de Grace Partnership – “TdGP”) – one of the largest oil sands resources held by an independent Canadian company. Terre de Grace covers approximately 290.5 square miles in the western part of the Athabasca region, and TriStar is under 100% VCI ownership, covering 101 square miles, south and east of Fort McMurray.
In terms of resource holdings, the total gross original bitumen in place (OBIP) is 33+ billion barrels, including BP’s interest in TdGP. The net OBIP to VCI is 16 billion barrels.
Advanced technology is the key to lower oil sands production costs and lower bitumen upgrading costs. VCI has developed proprietary technology designed to achieve these goals.
In 2010, VCI entered a joint venture with BP for the development of Terre de Grace. The JV is named “TdGP”
VCI is focused on the development of its wholly own TriStar resource, with an estimated 4 billion barrels of recoverable resource.