DOE selects 13 HPC4Mfg projects to advance applied science and technology in manufacturing; aluminum rolling and solid-state batteries
INFRA and Greenway to partner on GTL plants

Total to sell its interest in the Joslyn oil sands project to CNRL

Total, together with its partners, has to sell the Joslyn oil sands project in Alberta, Canada, to Canadian Natural Resources Limited (CNRL) for an overall consideration of 225 million Canadian dollars. The Joslyn lease is located directly south of CNRL’s current Horizon Oil Sands Mining and Upgrading project.

Following the oil price fall in 2014, the Joslyn project partners decided to put its further development on hold. Therefore, activities have since been limited to fulfilling regulatory requirements and ensuring the safety of the site.

Reducing our exposure to Canada’s oil sands by selling this asset is in line with our global strategy to focus our oil investments on low breakeven resources and develop a resilient portfolio in the mid- and long-term. It is also consistent with the gradual reduction of our stake in the Fort Hills oil sands project in 2017.

—Patrick Pouyanné, Chairman and CEO of Total

The closing of the transaction is subject to authorization by the Canadian Competition Bureau.

The Joslyn project partners are Total (operator, 38.25%), Suncor Energy Joslyn Partnership (36.75%), Joslyn Partnership (15%) and Inpex Canada Ltd (10%).

Total has been present in Canada’s upstream since 1999. The Group holds a 24.58% interest in Fort Hills, and a 50% interest in the Surmont project. In 2017, the Group’s production in Canada was 59,000 barrels of oil per day.


Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Your comment could not be posted. Error type:
Your comment has been posted. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.

Post a comment

Your Information

(Name is required. Email address will not be displayed with the comment.)

У нашей фирмы интересный блог на тематику Продать сахар в Черниговской области
Был найден мной авторитетный web-сайт на тематику Тепловая витрина.