The Fort Hills oil sands project in the Athabasca region of Alberta is considered one of Western Canada's best undeveloped oil sands assets.
The Fort Hills oil sands project is located approximately 90 kilometres north of Fort McMurray, in the Athabasca oil sands region of northeastern Alberta. We hold a 20% interest in the Fort Hills Energy Limited Partnership, which owns the Fort Hills oil sands project, with 29.2% held by Total E&P Canada Limited and the remaining 50.8% held by the project operator, Suncor Energy.
The partners announced they were proceeding with construction of Fort Hills in October 2013. Construction of the Fort Hills project is progressing substantially in accordance with the project schedule. Engineering activity is progressing well, and is now over 95% complete, and construction is progressing per plan and is now over 50% complete. The capital cost and schedule outlook have not changed since the project sanction was announced.
The project has been designed to optimize and protect land use by utilizing the latest technology and approaches to tailings management and reclamation processes. Existing and future water quality standards and environmental regulations will be met or exceeded throughout the life of the project. The project will aim to return all disturbed lands to as close to a natural state as possible.