BP invests in Canadian oil sands

LONDON, Nov. 30 (UPI) -- British energy company BP said it is committed to developing Canadian oil sands, which its partners note could yield 60,000 barrels of oil per day.

BP estimates oil sands locked in Alberta province in eastern Canada are second only to Saudi Arabia when considering total proven reserves.

BP shied away from oil sands before Chief Executive Tony Hayward in 2007 agreed to exploit the non-conventional resource through a partnership with Husky Oil.

The group may face criticism from Canadian environmental advocates wary of BP's reputation in the wake of the massive oil spill in the Gulf of Mexico, the Financial Times reports.

The decision to move ahead with Canadian oil sands development marks the first major investment by BP since the Gulf of Mexico spill. The company, FT adds, is aiming to invest large amounts of money into a few select areas.

Aboriginal Canadians have expressed concern that there are major health and environmental risks associated with metals tied to oil sands in the region. Their complaints were challenged by the oil industry and the Canadian government, which said the high levels of metals in the region were linked to natural processes, not the activity of oil sands mining.