CALGARY - SUNCOR ENERGY's board of directors has approved the spending of $3.6 billion on the expansion of the company's oil sands mining and upgrading projects near Fort McMurray, Alta. The plans include $1.5 billion to increase bitumen production from in-situ facilities and mines. The remaining $2.1 billion will be spent to expand the upgrader, including new coking facilities.
Engineering for the project is approximately 50% complete. Preliminary fieldwork, foundation construction and the manufacture of major vessels and equipment are in progress.
When this expansion is complete, the oil sands operation will have an increased capacity of 350,000 bbl/day in 2008. This and other projects form Suncor's Voyageur growth strategy, details of which are posted at www.suncor.com.
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