Suncor reported during the quarter that construction of the Firebag sulphur plant, previously targeted for completion in the second quarter of 2009, is now scheduled for completion early in the third quarter of 2009, with the delay due to the delivery schedule of modules from key vendors. The project cost is expected to exceed the upper end of the original cost range (approximately $375 million) with a final estimated cost in excess of $400 million as a result of the increased cost of major equipment. When complete, the plant is expected to support sulphur emissions reductions for existing and planned in-situ developments.
Approximately $3.6-billion in spending is targeted to Voyageur oil sands growth strategy in 2009. Suncor's 2009 plan maintains spending and construction timelines for the third and fourth stages of the company's Firebag in situ operations, part of the $20.6-billion Voyageur strategy. Completion of Firebag stages 3 and 4 (in 2009 and 2010, respectively), is expected to provide increases in bitumen production and future cash flow.
July 23, 2008
Alberta regulators confirmed that Suncor Energy (TSX:SU) can partly proceed with its Firebag oilsands project, because it has reduced hydrogen sulphide emissions.
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