At a presentation for investors, executives said they believe the company has a number of options when it comes to securing additional sources of bitumen to replace output from its Base Plant oilsands mine, and will take its time to evaluate them.
The Calgary-based company has spent a number of years exploring options to sustain the supply of thick, sticky oilsands crude to its Base Plant upgrading facilities north of Fort McMurray, Alta.Suncor’s Base Plant has a production capacity of 350,000 barrels per day, according to the company’s website, but its Base Plant mine is expected to be largely depleted by the mid-2030s.
Guilbeault also reminded Suncor that the federal government is committed to implementing a formal cap on CO2 emissions from the country’s oil and gas sector. Suncor CEO Rich Kruger told analysts on Tuesday’s investor presentation that he doesn’t believe there is just one solution to Suncor’s supply issue.“We believe we will have a number of options.”
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