Advertisement

Syncrude oilsands development back to normal after August fire

FILE: A tailings pond at the Syncrude oilsands facility is seen from a helicopter near Fort McMurray, Alta., July 10, 2012.
FILE: A tailings pond at the Syncrude oilsands facility is seen from a helicopter near Fort McMurray, Alta., July 10, 2012. Jeff McIntosh, The Canadian Press

CALGARY – Canadian Oil Sands Ltd. (TSX:COS) says production at the Syncrude oilsands development in northern Alberta has returned to normal after a fire in late August cut output by some 80 per cent.

The Aug. 29 fire damaged pipes, power and communications lines between two units of the Mildred Lake upgrader and cut production to minimal rates.

READ MORE: Syncrude expected to return to normal production rates by end of September

According to Canadian Oil Sands figures, the Syncrude project produced 1.9 million barrels of oil in September for a daily average of 63,300 barrels.

That’s down from July production of some 10.1 million barrels or an average of 326,100 barrels a day.

The company said in early September it expected 2015 crude output to come in at the low end of its targeted range of between 96 million and 107 million barrels as a result of the fire, which caused no injuries.

Story continues below advertisement

Canadian Oil Sands is the biggest partner in the Syncrude mine north of Fort McMurray, Alta., with a 37 per cent stake. Other owners include Imperial Oil Ltd. (TSX:IMO), Suncor Energy Inc. (TSX:SU), CNOOC Ltd., Sinopec, Murphy Oil and Mocal Energy.

Sponsored content