EcoNomics™ - Delivering Profitable Sustainability

CIM Edmonton 2008
Abstract Material changes have taken place in the Alberta oil and gas industry and all businesses need to efficiently optimize their operations in the context of environment and society - in addition to their obligation of profitable operation. The oil sands industry has operated in an environment of relatively inexpensive power and almost free water; however stakeholder expectations are changing, as are legislative and regulatory frameworks in which we all operate. We believe that, for our customers and for our business, this presents some new obligations and some important challenges and opportunities.

The presentation will introduce the EcoNomics™ concept and its context for Oil Sands operations. EcoNomics™ is a project delivery model that ensures the triple-bottom line sustainability on a resource asset life by embedding the social and environmental perspective into the engineering, construction and operations. Several speciality tools such as Cost-Benefit Analysis on the triple-bottom line and emerging technologies utilized in EcoNomics™ will be presented as well as an explanation of the integrated project team approach as part of the project delivery model will be included. Project case studies that demonstrate the value in adopting an EcoNomics™ approach will be examined.
Keywords: Oil sands, Engineering, Benefit, financial, Environment, Risk, Cost, Sustainability, social, Projects
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