Ownership & Investors
The Syncrude Project is a joint venture undertaking among Imperial Oil Resources Limited; Mocal Energy Limited; Nexen Oil Sands Partnership; Sinopec Oil Sands Partnership; and Suncor Energy Inc. (with the Suncor interest held by Canadian Oil Sands Partnership #1 and Suncor Energy Ventures Partnership, both wholly owned affiliates of Suncor Energy Inc.), as the project owners, and Syncrude as the project operator. Syncrude’s Mildred Lake facility is located 40 kilometres north of Fort McMurray.
The Syncrude Project was undertaken and continues to be operated for the purpose of producing crude oil and other lease substances from the mining and processing of oil sands, located on leases within the Athabasca Oil Sands Region, that have been committed to the project by the Owners.
The assets of the Joint Venture consist of the mining, extraction, upgrading, utilities and administrative facilities located at the Mildred Lake Plant (approximately 40 kilometres north of the City of Fort McMurray); the Aurora mining, primary extraction, co-generation and administrative facilities (located approximately 35 kilometres northeast of the Mildred Lake Plant); all Syncrude technology; the shares of Syncrude Canada Ltd.; all equipment and materials and all freehold and leasehold interests acquired by Syncrude, on behalf of the Owners for the Syncrude Project, including oil sands leases 10, 12, 17, 22, 29, 30, 31 and 34.
Each Joint Venture Owner has a specific undivided co-ownership interest in the assets of the Syncrude Project, as set out in the diagram above. Syncrude does not have any beneficial interest in those assets.