As operator of the world’s largest integrated oil sands mining and bitumen upgrading facilities, Syncrude is helping to secure Canada’s energy future and has a long and proud history of contributing to the economic well being of Canadians through the procurement a variety of goods and services, the employment of more than of 4,500 permanent employees, and the payment of royalties, corporate and payroll taxes.

Syncrude’s newly expanded production capacity represents about 15 per cent of Canada’s current domestic crude oil needs. A long life, high quality resource base, stable regulatory regime and competitive royalty and taxation environment provide Syncrude’s Joint Venture participants with a sound platform for continued sustainable operations and potential future growth. Capital investment and research initiatives focus on the best of new technologies that promise lower emissions, lower operating and capital costs per barrel, lower energy consumption per barrel, more efficient water use, and the development of higher quality, cleaner burning crude oil products.

Syncrude continues to be a major engine of growth for the Alberta and Canadian economies with over $4.2 billion in total spending during 2006. Syncrude’s direct spending in Alberta also translates into economic benefits outside the province. A 2005 study by the Canadian Energy Research Institute indicates that the effect on gross domestic product of oil sands spending is felt 72 per cent in Alberta, 17 per cent in other parts of Canada, and 11 per cent outside of Canada.