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2006 Outlook

Syncrude’s largest joint venture participant, Canadian Oil Sands Trust, provides regular updates on production outlook, capital expenditures and operations. These updates can be found on the Canadian Oil Sands website at www.cos-trust.com.

Purchased energy consumption is expected to rise following the completion of Stage 3 because additional hydrogen will be used to increase product quality from Syncrude Sweet Blend to Syncrude Sweet Premium. As well, bitumen will increasingly be sourced from the Aurora mine, which relies mainly on purchased natural gas for its energy needs. It is expected that long-term natural gas consumption going forward will be about 0.85 gigajoules per barrel versus historical consumption of about 0.75 gigajoules per barrel.

Oil Sands Developers

The Syncrude joint venture participants hold 102,000 hectares of high quality, long-life oil sands leases, providing them with a sound platform for continued growth. All of the leases can be mined and are among the best in the Athabasca deposit for quality of ore, low stripping ratios, and low total volume-to-bitumen in place, all of which enhance the economics of the Syncrude project. Syncrude uses the Dean & Stark extraction quality assurance method to test core samples and provide an accurate assessment of the oil contained within its leases. View Map

Syncrude Helps Local Company Meet with Success

Sorge Welding has come a long way since Richard and Janet Sorge founded the company in 1989 with a single mobile welding rig they operated themselves. The company landed its first contract with Syncrude in 2001, thanks to ongoing advice and coaching from Les Diachinsky, Syncrude’s Aboriginal Business Coordinator. Les introduced the Sorges to the right people and helped them demonstrate their company’s ability to meet Syncrude’s strict criteria for safety, quality and financial stability. Today, the company continues to do business with Syncrude, most recently on our upgrader expansion project. It has 20 full-time employees and a fleet of mobile rigs.