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Company nameSyncrude Canada Ltd.
Company typeJoint Venture
IndustryOil and Gas
FoundedDecember 1964
HeadquartersFort McMurray, Alberta
Employees5,600 (2009)

     Home | Company | Syncrude

Syncrude Canada Ltd. is the world's largest producer of synthetic crude oil from oil sands and the largest single source producer in Canada. It is located just outside Fort McMurray in the Athabasca Oil Sands, and has a nameplate capacity of 350000 oilbbl/d of oil, equivalent to about 13% of Canada's consumption. It has approximately 5.1 Goilbbl of proven and probable reserves (11.9 billion when including contingent and prospective resources) situated on 8 leases over 3 contiguous sites. By 2020, Syncrude expects to extract the equivalent to 525000 oilbbl/d. Including fully realized prospective reserves, said production level could be sustained for well over the next 60 years.

The company is a joint venture between seven partners. As a result, Syncrude is not traded directly, but rather through the individual owners. As of August 2010, the partners (by percentage): Canadian Oil Sands Limited (36.74%), Imperial Oil (25%), Suncor Energy (12%), Sinopec (9.03%), Nexen (7.23%), Mocal Energy (a subsidiary of Nippon Oil Exploration) (5%), and Murphy Oil (5%).

The ownership board must approve all annual operating budgets and proposed capital spending projects, and are required to provide the funding for said activities based on their ownership share.

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