International Petroleum to expand Blackrod, Alta. facility

International Petroleum Corp. is expanding its facility in Blackrod, Alta., with the goal of producing oil at a new development project by the end of 2026.

The company says the US$850-million project is expected to produce 30,000 barrels of oil daily by 2028. IPC holds a 100 per cent working interest in the project.

“We took a strategic decision at the start of this year to sanction the Greenfield development project, which hasn’t been done in quite some time,” William Lundin, chief operating officer of International Petroleum, told BNN Bloomberg in a television interview on Tuesday.

“This asset has a significant amount of resource at play.”