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PetroChina makes $1.7 billion investment in Canadian oil sands.

Publication: The Oil Daily
Publication Date: 01-SEP-09
Format: Online
Delivery: Immediate Online Access
Full Article Title: PetroChina makes $1.7 billion investment in Canadian oil sands.(PetroChina Company Ltd.)

Article Excerpt
PetroChina has returned to Alberta's oilpatch, this time taking a 60% stake in two oil sands projects for a hefty C$1.9 billion (US$1.7 billion). The investment is in the MacKay River and Dover ventures which are being developed by privately held Athabasca Oil Sands Corp. (AOSC).

The transaction includes certain financing provisions for the projects, located in northeastern Alberta. Reservoir engineers put the resources in...

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