Athabasca, PetroChina finalize JV on Canadian oil sands projects

Athabasca Oil Sands Corp. (AOSC) is pleased to announce that, having received all necessary approvals from the governments of Canada and the People's Republic of China, it has closed the transaction with PetroChina International Investment Company Limited, a wholly-owned subsidiary of PetroChina Company Limited

The agreement divests a 60 percent working interest in AOSC's MacKay River and Dover oil sands projects for a consideration of Cdn $1.9 billion. The projects are located in the centre of the Athabasca area in northeastern Alberta and AOSC and PetroChina International intend to use common in-situ methods to develop their oil sands projects.

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

Whitepapers

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...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs