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Total, Suncor sign $1.75 billion Canada oil sands deal

01/03/2011
Eric Watkins Oil Diplomacy Editor Total E&P Canada Ltd. and Suncor Energy Inc. said they will form a strategic oil sands alliance encompassing the Suncor-operated Fort Hills mining project, the Total-operated Joslyn mining project, and the Suncor-operated Voyageur upgrader project. All assets are in Alberta's Athabasca region. Under the alliance, the companies will pool their combined interests in these projects, with the respective operator holding 51% and the other partner 49%. Total will pay Suncor $1.75 billion. Total is acquiring 19.2% of Suncor's interest in the Fort Hills project, giving it an overall 39.2% interest after its acquisition of UTS Energy Corp, finalized ...
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