Suncor Energy Inc., Calgary, has assumed operatorship of the Syncrude joint venture oil sands project.
The deal was announced in fourth-quarter 2020 (OGJ Online, Nov. 24, 2020). Cumulative Syncrude production at the time exceeded 3 billion bbl.
In the Regional Municipality of Wood Buffalo (RMWB), Suncor operates its Oil Sands Base Plant, in situ assets Firebag and McKay River, as well as joint venture assets Fort Hills LP and Syncrude. Since 2016, Suncor has grown its ownership in Syncrude to 58.74% from 12% through acquisitions (OGJ Online, Mar. 22, 2016).
Partners in the Syncrude joint venture are Imperial Oil Resources Ltd. (25.0%), Sinopec Oil Sands Partnership (9.03%), and CNOOC Oil Sands Canada (7.23%).