Heavy Oil & Oil Sands Headlines

Sep-7-2005
Mining Giant Teck Pays $475 Million for Oil Sands Stake

Teck Cominco Ltd. is paying $475-million for part of the Fort Hills oil sands project, whose majority owner is Petro-Canada.

The Fort Hills project is one of the largest undeveloped oil sands leases in the Athabasca region, and contains an estimated 2.8 billion barrels of recoverable bitumen. Up to 190,000 barrels per day of production is planned through staged expansion.

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