ConocoPhillips OKs Surmont oil sands project; plans 100,000 b/d of bitumen by 2012

ConocoPhillips approved the $1.1 billion Surmont oil sands project 60 km southeast of Fort McMurray, Alta., and plans to start construction in early 2004. Initial bitumen production will commence in 2006, increasing to more than 100,000 b/d by 2012, ConocoPhillips said.

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