Alberta regulators give green light to MacKay River project

12/28/2011

Alberta regulators give green light to MacKay River project

CALGARY -- Alberta regulators have approved the MacKay River oil-sands project'>project, a planned 150,000-barrel-a-day project'>project in the northern part of the province jointly owned by Canada's Athabasca Oil Sands Corp. and China's PetroChina Co.

Calgary-based Athabasca Oil Sands, which owns 40% of MacKay Operating Corp., the joint-venture company, said in a statement that MacKay River is expected to start up in 2014. Phase 1 is expected to produce 35,000 barrels a day of oil.

As reported, PetroChina paid about C$1.9 billion in 2009 to buy a 60% stake in two oil-sands projects owned by Athabasca Oil Sands.

The commercial application for MacKay River was filed in December 2009. The project'>project has now obtained full regulatory approval from the Alberta Energy Resources Conservation Board and Alberta Environment and Water.

Dow Jones Newswires

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