ALBERTA CANADIAN NATURAL RESOURCES (CNRL) of Calgary says that progress at its Horizon oils sands project near Fort McMurray will be 77% complete by the end of June 2007.
All major vessels have been delivered and many are erected. Work in the coming months will focus on mechanical construction. Project completion costs are now forecast to be from 5% to 12% over the original $6.8 billion estimate. Production should begin in 2008 at a rate of 110,000 bbl/day.
Additional details are available at www.CNRL.com.