Suncor’s Fort Hills secondary extraction project in Alberta
Suncor unshackles oil sands
Output scaled up as company eyes falling breakeven and billions in additional cash
Canadian oil sands operator Suncor Energy expects to lift production by 5pc next year—averaging 750,000-790,000bl/d oe—with market conditions looking healthy post-pandemic and a competitive $35/bl breakeven. Open-pit mining at Suncor’s Fort Hills development, in Alberta’s Athabasca region, is one of the key growth drivers for the company and production is projected to lift by 82-89pc next year, accounting for c.11.3-12.7pc of Suncor’s portfolio. “We are right on plan, and we will have both trains at full rates intermittently in December to ensure a seamless transition to full operating mode,” says Mark Little, Suncor CEO. “Our expectation for 2022 cash operating cost per barrel is in th
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