French energy giant Total announced today that first oil had sprung from the Fort Hills oil sands project in Canada.
Total said production from the field, 90 kilometers north of Fort McMurray, Alberta, would reach a plateau of 180,000 barrels per day over the coming months.
The project is operated by Suncor, which owns a 53.06% stake. Total has 26.05% and Teck is on 20.89%.
Arnaud Breuillac, president, exploration and production, Total, said: “We are pleased to see Fort Hills achieving first oil after a challenging construction program of several years in a difficult climatic environment and we congratulate the operator Suncor for having brought to bear all of its expertise to carry out this project.”
Total has gradually reduced its interest in the project from 39.2% in 2015 to 26.05% today.
It should eventually settle near 25% once the final project cost is known.
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