Canadian Oil Sands production forecast revised due to coker's unscheduled maintenance

By OGJ editors

HOUSTON, Oct. 14 -- Calgary-based Canadian Oil Sands Trust, managed by Canadian Oil Sands Ltd., has revised downward its predicted 2003 syncrude production range to 78-80 million bbl from 81-83 million bbl due to unscheduled maintenance work requiring a complete turnaround at the Syncrude Joint Venture's oil sands facility at Fort McMurray, Alta. Syncrude Canada Ltd. operates the facility.

Canadian Oil Sands holds a 35.49% working interest in the JV.

The Coker 8-1 primary upgrading unit, which was experiencing operational problems, was taken down Thursday for maintenance. The company said the turnaround is expected to take about 30 days.

The Fort McMurray facility is the largest producer of light crude from oil sands and the largest single source of oil production in Canada. The impact of the turnaround on the unit's operating costs will not be known until maintenance is completed.

As a result of the turnaround, Canadian Oil Sands now expects to receive 25-26 million bbl instead of 26-27 million bbl net.

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