ALBERTA — The first synthetic crude oil from the Horizon oil sands project was produced on Feb. 28, 2009, reported owner Canadian Natural Resources Ltd (CNRL). The event marked four years of construction work.
“Although our production history at Horizon has been very short, at this point all operating units appear to be performing at design capacity,” said president and CEO Steve Laut. “In the immediate near term, we will focus on stabilizing performance and filling the product tanks in preparation for blending and introducing first synthetic crude oil into the Horizon pipeline for shipment to Edmonton and ultimate sale. For the remainder of 2009, our focus at Horizon will be on ramping up production volumes, increasing reliability and reducing operating costs.”
CNRL has deferred $800 million of the 2009 capital program due to the poor economic outlook. More news is available at www.CNRL.com.