Canadian oil sands: SAGD project cost inflation

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Report summary

Wood Mackenzie has developed a proprietary model which forecasts cost inflation specific to SAGD (Steam Assisted Gravity Drainage) operations in the Canadian Oil Sands. Our analysis shows that capex inflation will peak in 2014 at 5% annual increase before moderating in 2015. Opex inflation on the other hand will continue to be high, averaging a 6% year-on-year increase over the next five years. Strengthening gas prices and continued stress in the oil sands labour markets will impact...

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    Canadian oil sands: SAGD project cost inflation

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Table of contents

Tables and charts

This report includes 15 images and tables including:


  • Assumptions for generic SAGD project
  • Assumptions for High/Low inflation scenarios
  • Canadian oil sands: SAGD project cost inflation: Table 1
  • SAGD Capex Index
  • Opex sub-indices and weightings
  • SAGD Opex Index


  • Canadian oil sands production
  • SAGD capex category weightings
  • SAGD Capex Index (100 = 2000)
  • SAGD opex category weightings
  • Labour inflation
  • Gas price inflation
  • SAGD Opex Index (100 = 2000)
  • Generic SAGD project valuations
  • SAGD project economics inflation sensitivity

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