The JACOS Hangingstone Project is located approximately 50km southwest of Fort McMurray and 25km west of the community of Anzac. The Hangingstone Project is a joint venture project in which JACOS holds a 75% participating interest as the operator, while NEXEN Energy ULC (a wholly owned subsidiary of CNOOC Limited) holds the remaining 25% interest. The initial stage will result in bitumen production capacity of around 20,000 barrels per day. A decision on expansion of the facilities to bitumen production capacity of approximately 30,000 barrels per day will be made after start-up of the operation. Bitumen production will continue for around 30 years using the steam-assisted gravity drainage (SAGD) method, which has already been utilized at the Hangingstone Demonstration operation for more than 15 years.
First steam was achieved on April 28, 2017 with first oil following on Aug 3, 2017.