Athabasca to start-up new oil sands plant

摘要

Calgary—Canada’s Athabasca Oil Corp. will start up its first bitumen project in the first quarter of 2015, marking its transition from a largely oil sands explorer to a developer in Alberta, CEO Sveinung Svarte, said Wednesday. The first phase of the 12,000 b/d Hangingstone Project 1 was 59% complete at the end of 2013, with contracts secured for 80% of the sanctioned value of the project, he said on a webcast to discuss AOC’s year-end 2013 earnings.