Suncor applies for new 160,000 b/d oil sands project, buys 5% more of Syncrude

oil sands
Syncrude oil sands facility

New Suncor oil sands project will have production of 160,000 barrels per day

Suncor announced it has closed the transaction to purchase a five per cent interest in Syncrude from Mocal Energy for $925 million CDN with an effective date of Jan 1., 2018, according to a press release.

Through this transaction Suncor’s share in the Syncrude joint venture has increased from 53.74% to 58.74%. The Syncrude joint venture partners are Suncor (58.74%), Imperial Oil Resources (25%), Sinopec Oil Sands Partnership (9.03%) and Nexen Oil Sands Partnership (7.23%).

Suncor Energy Inc. also applied to the Alberta Energy Regulator to construct, operate, and reclaim the Lewis In Situ Project. The project would recover 160,000 barrels per day of oil sands bitumen from the McMurray Formation using steam-assisted gravity drainage technology. The project would include

  • a central processing facility with associated facilities,
  • cogeneration facilities,
  • thermal injection wells,
  • production and disposal wells,
  • well pads,
  • stormwater ponds, and
  • associated infrastructure, including multiuse corridors, pipelines, and roads, as well as land access.

The project would be located about 25 kilometres (km) northeast of the city of Fort McMurray and about 18 km southeast of the community of Fort McKay, within Townships 91 to 93, Ranges 5 to 8, West of the 4th Meridian, in the Regional Municipality of Wood Buffalo. Construction would start as early as 2024.

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