Total sells interest in Joslyn oilsands project to CNRL
Published by Nicholas Woodroof,
Editor
World Pipelines,
Following the oil price fall in 2014, the project partners decided to put further development on hold; activities have since been limited to fulfilling regulatory requirements and ensuring the site’s safety.
Patrick Pouyanné, Chairman and CEO of Total, said: “Reducing our exposure to Canada’s oilsands 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.”
The closing of the transaction is subject to authorisation by the Canadian Competition Bureau.
Read the article online at: https://www.worldpipelines.com/project-news/31082018/total-sells-interest-in-joslyn-oilsands-project-to-cnrl/
You might also like
World Pipelines Podcast: Going global with IPLOCA
In this episode, Elizabeth Corner speaks to Georges Hage, Executive Secretary at IPLOCA, about IPLOCA's insights on the culture and characteristics of the pipeline contractor community, and how it works to support sustainable energy infrastructure.
Eni and the UK Government reach financial close for the Liverpool Bay CCS project
The project foresees the efficient repurposing of part of the offshore platforms as well as 149 km of onshore and offshore pipelines, and the construction of 35 km of new pipelines to connect industrial emitters to the Liverpool Bay CCS network.