PetroChina enters oil sands joint venture

By OGJ editors
HOUSTON, Sept. 2
-- Athabasca Oil Sands Corp. (AOSC) has entered a series of joint venture agreements with PetroChina International Investment Co. Ltd.

PIIC agreed to pay $1.9 billion (Can.) to acquire 60% working interest in AOSC's MacKay River and Dover oil sands projects in northeastern Alberta. The agreements provide certain financing arrangements for AOSC.

As JV partners, AOSC and PIIC plan to use in situ methods to develop the oil sands projects.

AOSC filed applications for approval of two pilot projects within the project areas with Alberta's Energy Resources Conservation Board and intends to file a regulatory application for the first 35,000 b/d phase of the MacKay River commercial project at yearend.

Related Articles

ExxonMobil replaces 103% of 2013 production

02/21/2014 ExxonMobil Corp. replaced 103% of its oil and natural gas production last year with additions to reserves, mostly of crude oil and other liquids.

Hydraulic fracturing stuck in New York policy vacuum

02/01/2014 Persistent institutional indecisiveness by elected officials in New York State has placed the state in the position of not having a statewide polic...

Contact hails Kakwa Montney tight gas-liquids well results

10/16/2013 Contact Exploration Inc., Calgary, said completion of its fourth operated horizontal Middle Montney formation tight gas-liquids well extends the sc...

Watching Government: BC Premier's energy stance

10/14/2013 British Columbia will not budge on its requirements proposed heavy oil export projects must meet, Premier Christy Clark said on Oct. 4. But that do...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!


Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected