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CAPITAL SPENDING NEWS Oil Sands Producers Promise Over $1 Billion

FORT McMURRAY, Alberta Two of the oil sands producers in northern Alberta have promised over $1.07 billion for ca...



FORT McMURRAY, Alberta Two of the oil sands producers in northern Alberta have promised over $1.07 billion for capital spending at their operations in 2004.

PETRO-CANADA will invest $320 million for its share of the Syncrude Stage-3 (including Aurora Train 2) expansion and for both Syncrude and MacKay River sustaining capital.

SUNCOR ENERGY has committed $750 million for growth projects at its oil sands mine and plant. The amount includes funds for development of the Firebag in-situ project and for upgrader expansions.

SHELL CANADA says it will spend about $155 million at the Athabasca oil sands project.

The total capital expenditures made at oil sands operations will be more than the sum attainable by adding these figures. Each project has multiple partners, and the contributions of other participants are not included.


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