Canadian Natural is one of the largest independent crude oil and natural gas producers in the world. The company targets cost effective alternatives to develop its portfolio of projects and to deliver on its defined growth plan. It has a low-cost, diversified combination of assets in North America, the North Sea and Offshore West Africa, which enables it to generate significant value, even in challenging economic environments.
Canadian Natural operates Horizon Oil Sands to produce surface mineable bitumen from leases north of Fort McMurray in Northern Alberta.
Horizon Oil Sands
o World class opportunity for oil sands mining with six billion barrels of resource potential.
o Supports 232,000 – 250,000 barrels per day of light, sweet, crude oil production for over 40 years, with no production declines.
Canadian Natural realized first Synthetic Crude Oil (SCO) at Horizon Oil Sands on February 28, 2009. Shortly afterwards on March 18, 2009, Canadian Natural had its first shipment of SCO into the sales pipeline. The company currently markets its production of SCO to all traditional SCO markets and refiners.
This presentation provides an overview of Horizon Oil Sands in addition to an update of operation to date.