IPC begins steam injection at Blackrod Phase 1 in Canada

International Petroleum Corporation (IPC) has launched the archetypal steam injection for signifier 1 of its afloat owned Blackrod lipid sands task successful Alberta, Canada.

The Canada-based institution expects lipid accumulation from this signifier to commencement successful the 3rd 4th of 2026 (Q3 2026), a 4th earlier than initially expected.

The Blackrod plus is said to incorporate important reserves and contingent resources, with regulatory support permitting accumulation of up to 80,000 barrels of lipid per time (bopd).

IPC approved the archetypal signifier of improvement successful aboriginal 2023. The institution aims to execute plateau accumulation rates of 30,000bopd successful this phase, with superior costs forecast astatine $850m (C$1.17bn).

IPC president and CEO William Lundin said: “We are highly excited to denote that archetypal steam astatine the transformational Blackrod Phase 1 improvement task occurred successful December 2025. The warm-up process, done steam circulation, for the archetypal acceptable of wells is ongoing and we proceed to forecast archetypal lipid accumulation from Blackrod Phase 1 successful Q3 2026.

“The Blackrod Phase 1 improvement remains connected fund with a forecast maturation superior expenditure of $850m to archetypal oil. IPC plans to supply further updates connected IPC’s forecast accumulation and currency flows astatine our Capital Markets Day connected 10 February 2026.”

The Blackrod task is designed to leverage steam-assisted gravity drainage exertion to execute its accumulation targets.

The cardinal processing installation volition person a steam accumulation capableness of up to 90,000 barrels per time and see a cogeneration plant.

Construction connected the lipid sands task commenced successful 2024.

As of the extremity of September 2025, IPC had spent astir $785m, representing astir 92% of the planned fund for archetypal lipid extraction.

During Q3 2025, IPC's mean nett accumulation was astir 45,900 barrels of lipid equivalent per day, surpassing anterior forecasts.

This fig comprises chiefly dense crude lipid (53%), alongside airy and mean crude lipid (14%) and earthy state (33%).

Operating costs stood astatine $17.9 per tube of lipid equivalent during this period.

The mean Brent crude terms was astir $69 per tube successful Q3 2025, a flimsy summation from the erstwhile quarter's average.

"IPC begins steam injection astatine Blackrod Phase 1 successful Canada" was primitively created and published by Offshore Technology, a GlobalData owned brand.

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