In order to meet the world’s energy needs responsibly we continue to find innovative ways to achieve operating efficiencies and limit the impact on the environment. Our goal at Canadian Natural is to unleash our best minds to advance the research and application of technologies across our entire operations to protect wildlife, reduce emissions, improve resource recovery, and ultimately, to create value.
Our investments in technology and innovation demonstrate our commitment to environmental excellence, as we continue our research into technologies that offer improved environmental performance in our operations. For instance, supporting Research and Development (R&D) while developing and adopting innovative technology is a key part of our greenhouse gas (GHG) emission reduction strategy. Technology enables improved environmental performance, which in turn reduces operating costs, allowing us to become more efficient and effective.
Industry Leading Research and Development
Investments into technology and innovation have long been a priority for Canadian Natural. We invested $527 million into R&D in 2015. We were the largest crude oil and natural gas investor into R&D in 2014 with an investment of $450 million, which ranked us 7th in Canada among R&D investors across all industries.
Our R&D investment dollars went towards a wide range of projects and initiatives across multiple areas, including advancements in enhanced oil recovery, improved efficiencies in heavy oil, oil sands mining and thermal production, and improved environmental performance. Some of our 2015 technology and development projects are highlighted in our 2015 Stewardship Report to Stakeholders.
Many of Canadian Natural’s investments are in projects where the technology and innovation will be shared with Canada’s Oil Sands Innovation Alliance (COSIA), a unique industry alliance focusing on environmental innovation. Learn more about Canadian Natural’s leading work with COSIA.