For example, energy costs would be much lower because the need for hot water would largely be eliminated. Proved reserves at year end were 2. Bid Proposals Businesses often respond to tenders from public or private contracting agencies by submitting proposals. In segments where volume growth opportunities are limited, such as the Downstream and Chemical businesses, we target to keep capital additions at less than depreciation.
This self-help approach is relevant in all business environments. Our strong safety performance is the direct result of effective risk management and a relentless focus on operational excellence. Our existing portfolio of assets is high performing. Our ongoing focus on base business performance maximize the value of our asset base and enable a disciplined investment strategy.
Kearl is unique as it is the first oil sands mining operation without an upgrader. ExxonMobil will be the operator of the exploration effort. Demand for oil products will flatten and then decline.
Long-life Asset With low unit development costs, high resource quality and a very long, flat production profile, Kearl is advantaged relative to traditional decline driven production profiles.
We are just about at the half way point on construction. Before we begin, I would like to take a moment to review some safety information.
That encompasses actions to reduce water use, spills and releases. As you can see from this chart, over the last 5 years, all our businesses posted strong returns. This new oil production show in light blue is equal to several times the production of Saudi Arabia. In older development areas, this technology will encourage the flow of steam from the new injector toward producing wells, accessing bitumen that cannot be reached with the existing single injector and producing well.
We should have time for your questions at the end before we finish up around This same strategy will be used for the next phase of Cold Lake, known as Nabiye, which is expected to be on production by But it is still expected that Mackenzie and Alaskan pipeline gas will be required to meet North American demand.
This allows us to develop the resource at a lower development and operating cost. To do so takes diligence and innovation. Developed economies will also need energy for continued economic growth but increased energy efficiency will likely keep OECD demand flat.
We have grown the size of the conventional portion of non-proven resource in the past couple of years as we start to incorporate Horn River into the solid red conventional oil and gas segment.
This technology is going to contribute significantly to the higher recoveries shown on an earlier slide. By focusing first on safe operations, we know that it will lead to excellence in our overall operations. More recently, we have started work looking at tight oil opportunities in Alberta.
We are well along the path to fully implement the management systems that Bruce mentioned earlier. Finding large plays and developing the technology to produce the resource economically, responsibly and at low cost has resulted in a history of superior operating and financial performance.
This has been and will be a sustainable source of competitive advantage. The overall production profile and total resource developed remains unchanged for the reconfigured project. First and foremost are risks associated with safety, security and the environment. And we are well positioned with a proven strategy and superior growth opportunities to continue this shareholder performance in the coming decades.
Canada and other countries continue to develop policies intended to reduce greenhouse gas emissions and yet not impair long-term economic growth. Opening sales offices in Xxx and Xxx within 2 years. Earnings Imperial Oil achieved continued strong financial performance across all business segments.
We are progressing the Nabiye project to add new volumes at Cold Lake. Business Plan PowerPoint Themes, Presentation Themes & PPT Templates Layout Business plan presentations are among the most frequent occasions that rely on PowerPoint. But the standard out-of-the-box templates and presentation themes are now so familiar to the corporate masses as to be of limited effectiveness.
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