Canadian Oil Sands to double spending on Syncrude during 2012

By OGJ editors

Canadian Oil Sands Ltd. said its 2012 budget plans anticipate a $1.46 billion (Can) investment at the Syncrude Canada Ltd. oil sands project in Fort McMurray, Alta. Calgary-based Canadian Oil Sands holds 36.74% interest in Syncrude.

About $974 million of that investment will be spent on what Canadian Oil Sands calls “discrete, major infrastructure projects” to position Syncrude for 10-20 years of production while improving operational efficiency and environmental performance.

Canadian Oil Sands anticipates overall Syncrude production of 106-117 million bbl in 2012. After reducing its original 2011 budget for Syncrude because of work deferred, Canadian Oil Sands estimates it will have invested $691 million investment on Syncrude this year.

Syncrude’s partners include Imperial Oil Ltd., Suncor Energy Inc., Sinopec Corp., Nexen Inc., Mocal Energy Ltd., and Murphy Oil Co.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...