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OIL SANDS DEVELOPMENT – Horizon project nears halfway mark

ALBERTA - CANADIAN NATURAL RESOURCES (CNRL) of Calgary says that as of the end of September 2006, work was 47% comp...



ALBERTA – CANADIAN NATURAL RESOURCES (CNRL) of Calgary says that as of the end of September 2006, work was 47% complete on its Horizon oil sands project 70 km north of Fort McMurray. Capital spending has reached $3.26 billion, or 48% of the estimated $6.80 billion capital cost for Phase I development.

During the third quarter of 2006, CNRL said it awarded $400 million of contracts, bringing the contract total to $4.80 billion. Over 600 modules and oversized loads have reached the site, and more than half the modules have been installed. The major foundations have been completed; work has moved on to erecting steel, setting equipment and placing modules.

The Horizon project is to be commissioned during the third quarter of 2008.

The company’s website, www.CNRL.com, includes an Opportunities button where contractors may register or view a list of the work available.


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