 However, it also expects bitumen and synthetic crude oil from oil sands will considerably more than offset the decline in conventional crude oil and account for 87% of Alberta oil production by 2016.For light oil, the petroleum industry is searching for the remaining undiscovered pools, drilling infill oil wells, or redeveloping existing pools using enhanced oil recovery (EOR) techniques such as waterfloods, miscible floods, and carbon dioxide injection.Currently, only about 27 percent of light oil is recovered, leaving large opportunities for improvement.