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Petro-Canada updates Fort Hills oil sands costs

08/13/2007
Petro-Canada expects the first phase of the Fort Hills oil sands project in Alberta to have a capital cost of $14.1 billion (Can.) and produce through mining 160,000 b/d of bitumen, which then the venture would upgrade to 140,000 b/d of syncrude.In a June 2007 presentation, the company said the first bitumen production from Fort Hills should start in late 2011, pending final project approval, with the upgrader ready to process bitumen in second-quarter 2012.The Fort Hills partners also plan a second phase in the venture that would double production and upgrading to 320,000 b/d of bitumen and 280,000 b/d of syncrude.The present plans for the upgrader call for producing a single 36° gra...
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