OIL SANDS SPENDING: Suncor plans $5.5B capital budget for 2010

CALGARY — Suncor Energy has announced capital spending plans of $5.5 billion in 2010. The amount is earm...

CALGARYSuncor Energy has announced capital spending plans of $5.5 billion in 2010. The amount is earmarked for oil sands growth projects ($1.5 billion) and for sustaining existing operations ($4.0 billion).

 

The Firebag Stage 3 in-situ oil sands expansion will receive most of the growth spending ($900 million). It was 50% complete when the decision to defer further development was announced in early 2009. Suncor expects Stage 3 production will begin in Q2 2011 and ramp up to capacity of 68,000 bbl of bitumen per day. Spending will also be directed to the Firebag Stage 4 project ($50 million) to add another 68,000 bbl/d beginning in Q4 2012. Spending for the naphtha unit for the Millennium oil sands project will total $100 million.

 

Suncor's sustaining capital projects include oil sands base maintenance ($750 million), maintenance of its in-situ projects ($400 million), maintenance at the Syncrude oil sands operation ($200 million), and the tailings reduction operation ($450 million).

 

Details of the plan are available in the news release of Nov. 13, 2009, posted at www.Suncor.com.

Comments

Your email address will not be published. Required fields are marked *

Mar 27 2024 - Mar 28 2024
Apr 08 2024 - Apr 09 2024
Apr 15 2024 - Apr 16 2024
Apr 16 2024 - Apr 16 2024