OIL SANDS: Joslyn project on hold

ALBERTA – Total E&P Canada has quietly put the $11-billion Joslyn oil sands project near Fort McMurray on hold indefinitely, saying the costs of the project are too high to justify going forward. The project was in the detailed engineering phase for a mine that would have supplied 100,000 bbl of bitumen daily beginning in 2020.

The Joslyn project is a joint venture of Total E&P (38.25% and operator), Suncor Energy (36.75%), Occidental Petroleum (15%) and Inpex Canada (10%).

About 150 Canadian jobs will be lost, although some workers may move to other Total E&P projects.

Click here to read a description of the Joslyn project.