The cost of producing bitumen and synthetic crude from Albertan oil sands rose by 4.4% for steam-assisted gravity drainage (SAGD), according to the Canadian Energy Research Institute (CERI).
CERI also said the cost for mining without upgrading rose by 1.6%, and 5.9% for integrated mining and upgrading.
In its annual report, CERI projected steady growth in output.
Production rose 10.9% from 2012 to 2013 to 2.1 million bpd.
CERI forecasts supply costs, excluding transportation and blending costs, at US$47.46/bb (C$50.89/bb) for bitumen using SAGD and US$62.44/bb (C$66.96/bb) for standalone mining.
CERI forecasts supply costs for integrated mining and upgrading at US$100.31/bb (C$107.57/bbl) and US$38.07/bb (C$40.82/bbl) for a standalone upgrader.