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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 a majority interest in BA Energy Inc.
The Value Creation Group is made up of three companies: Value Creation Inc. (VCI), Technoeconomics Inc. and BA Energy Inc.
Value Creation Inc.
VCI’s extensive resource base positions VCI to become a major oil sands player. Its wholly-owned oil sands resources cover 430 square miles – one of the largest oil sands resources held by an independent Canadian company. The largest block of leases, Terre de Grace, covers approximately 290 square miles in the western part of the Athabasca region.
Advanced technology is the key to lower oil sands production costs and lower bitumen upgrading costs. Together with its affiliate, Technoeconomics Inc., VCI has developed proprietary technology designed to achieve these goals.
The first commercial application of the Value Creation Group technology has been spearheaded by BA Energy with its Heartland Upgrader, currently being constructed in Strathcona County, northeast of Edmonton, Alberta. VCI also plans to apply its breakthrough technology and synergistic integration with Steam Assisted Gravity Drainage (SAGD) to develop its extensive oil sands leases, commencing with its first development project at Terre de Grace near Fort McMurray, Alberta.
Technoeconomics Inc.
The technology of the Value Creation Group (VCG) is designed to significantly lower oil sands production, transportation and bitumen upgrading costs that currently inhibit higher production from the Alberta oil sands. Technoeconomics Inc. developed the VCG technology in affiliation with VCI.
BA Energy Inc.
BA Energy’s Heartland Upgrader, with approved capacity of up to 260,000 bbl/d, is under construction northeast of Edmonton, Alberta and will commercially prove the VCG technology. Phase 1 of the Heartland Upgrader is expected to start up in 2008.
The Heartland Upgrader will reduce costs and the environmental impact of bitumen upgrading, while providing a higher-grade product to market.
VCI is the founding and majority shareholder of BA Energy Inc. VCI formed BA Energy with the mandate to design, construct and operate the Heartland Upgrader using the technology of the Value Creation Group.
VCI and BA Energy expect the Heartland Upgrader to become a dominant merchant upgrader and a key enabler to accelerate development by bitumen producers.
Click here to visit the BA Energy web site.
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