By Nia Williams
Feb 15 (Reuters) - Canada's Suncor Energy on
Wednesday said it is weighing options for replacing around
200,000 barrels per day of raw supply from its oil sands Base
Mine, which is set to run out in the mid-2030s.
The mine is a key part of Suncor's Base Plant operations in
northern Alberta, feeding two upgraders that produce roughly
350,000 per day of high value synthetic crude.
The company is working on a regulatory application to extend
Base Mine, after being warned last year by the federal
government that the project, as first proposed, would not pass
an environmental review because emissions were too high.
Suncor is also looking at developing thermal oil sands
projects just east of Base Plant, increasing production from its
Firebag project nearby and boosting supply from its Fort Hills
mine, which is linked to Base Plant via a 40,000 pipeline.
"It's too early to call in terms of which horse is in the
lead race but those options are being worked very hard,"
Suncor's interim chief executive Kris Smith told analysts on a
quarterly earnings call.
Smith said Suncor's focus is on keeping the upgraders full,
and the choice would come down to the most economic way to do
that. The company expects to land on one of the options over the
next 24 months, he added.
Calgary-based Suncor reported a better-than-expected
fourth-quarter profit on Tuesday, helped by higher crude prices
amid tightened global supply.
The company's shares were last up 0.8% at C$47.21 on the
Toronto Stock Exchange.
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fatality ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
(Reporting by Nia Williams
Editing by Nick Zieminski)
Messaging: nia.williams.thomsonreuters.com@reuters.net))
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