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 as of year-end has surpassed 76% complete, with two of the six major project areas (mining and infrastructure) turned over to operations. All major plant equipment and materials are on site, and all major vessels and process modules have been installed. Shovels, trucks and equipment are mobilizing for operations. As of year-end, 58% of operations personnel have been hired.
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.