About our Financial Reporting

Financial Results

Economic Contribution

Future Growth Potential

Operational Highlights

Dragline and Bucketwheel Retired

Syncrude’s last operating dragline and bucketwheel reclaimer were retired in March. This technology had been a mainstay of our oil sands mining operation for 29 years, helping produce more than 1.1 billion barrels of Syncrude Sweet Blend.

 

Bitumen Recovery Improves

Bitumen recovery from oil sand averaged 91.3 per cent in 2006, up from 89.1 per cent in 2005 and four per cent higher than 2004. A recently completed optimization project in the Aurora mine aims to boost recovery at that site by a further one per cent. A Recovery Excellence Team comprised of experts from Syncrude’s Research, Development and Operations areas was established in 2004 and continues to lead recovery improvement efforts.

 

Tire Utilization Increases

Syncrude was successful in its efforts to increase the life of haul truck tires and thereby avoid production impacts stemming from a global shortage of tires for heavy equipment. Improved practices by haul truck drivers, better road design and maintenance in the mines, and innovative repair techniques developed by Syncrude’s Research Department led to the gains.

 

Timely Shift Changes Improve Production

Production slowdowns resulting from shift changes in the Aurora mine have been minimized by applying the Six Sigma process. Seventy per cent of shift changes now occur without any production slowdown, up from the previous 35 per cent. The Aurora process provides just-in-time production, with only 45 minutes of oil sand stockpiled at any one time.