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COSIA’s performance update

Oil sands producers have invested $1.4 billion in shared technologies to accelerate environmental performance across the industry.

At its Performance Update held on March 20, 2018, Canada’s Oil Sands Innovation Alliance (COSIA) announced that to date, its members have voluntarily invested $1.4 billion to accelerate environmental performance, sharing 981 specific environmental technologies.

These technologies are driving to decrease greenhouse gas emissions, reduce water usage and reclaim land faster. COSIA is an example of Canadian innovation and environmental leadership at work to help meet global challenges.

“Since coming together in 2012, the commitment of our member companies has strengthened year-over-year,” said Dan Wicklum, COSIA chief executive. “In fact, our project count has gone up every year. In 2017, COSIA members expanded the alliance’s portfolio more than in any year previous, initiating 99 new projects in 2017.”As COSIA moves forward, the alliance has identified promising areas for innovations in in situ development. By reducing the need for steam during bitumen extraction, COSIA members aim to increase energy efficiency and drastically cut carbon dioxide (CO2) emissions. This is an area of activity where industry could reduce GHG intensity by 10 to 30 per cent in the next five years, with even greater improvements in the next decade and a half.

COSIA is itself a unique model of open innovation and collaboration: It is one of the only examples of former competitors agreeing to share hard-earned innovations and intellectual property to serve the common interests of an entire industry. As well, COSIA works with some of Canada’s and the world’s top scientists and innovators.

COSIA performance update