Total has a 74-percent stake in the Joslyn Project, 60-percent interest in the Northern Lights Project, and a 50-percent interest in the Surmont lease.
Author: Ksenia Kochneva
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Total May Delay Oil Sands Projects
French energy major Total SA says it expects delays at its oil sands projects and has pushed back expectations for ramping up production, reports Dow Jones Newswires
Total had estimated that production from its Surmont and Joslyn projects would reach 250,000 barrels by 2015 or 2016, but that goal is no longer realistic, Total chief executive Christophe de Margerie said at a media briefing in New York.
"If it is the next decade, it will be at the real end of the decade," de Margerie said. "I would not be surprised if the industry as a whole was delayed by one or two years.
De Margerie cited high production costs and more-stringent environmental policies for the delays. "It's not just technical, it's technical and let's say, political."
Total has a 74-percent stake in the Joslyn Project, 60-percent interest in the Northern Lights Project, and a 50-percent interest in the Surmont lease.
Author: Ksenia Kochneva
Total has a 74-percent stake in the Joslyn Project, 60-percent interest in the Northern Lights Project, and a 50-percent interest in the Surmont lease.
Author: Ksenia Kochneva
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