Suncor assumes operatorship of Syncrude

Suncor Energy Inc, Calgary, has assumed operatorship of the Syncrude joint venture oil sands project.

The deal was announced in fourth-quarter 2020. Cumulative Syncrude production at the time exceeded three billion bbl.

In the Regional Municipality of Wood Buffalo (RMWB), Suncor operates its Oil Sands Base Plant, in situ assets Firebag and McKay River, as well as joint venture assets Fort Hills LP and Syncrude.

Since 2016, Suncor has grown its ownership in Syncrude from 12% to 58.74% through acquisitions.

Partners in the Syncrude joint venture are Imperial Oil Resources Ltd (25.0%), Sinopec Oil Sands Partnership (9.03%), and CNOOC Oil Sands Canada (7.23%).

Source: Oil & Gas Journal