Husky completes Tucker oil sands project

Aug. 22, 2006 at 1:34 PM

CALGARY, Alberta, Aug. 22 (UPI) -- Husky Energy has completed construction of its Tucker oil sands project near Cold Lake in Alberta.

The site is expected to have a project life of 35 years and produce about 350 million barrels of bitumen with approximately 40 full-time workers.

"Tucker is in close proximity to Husky's Cold Lake pipeline system and heavy oil upgrader in Lloydminster, Saskatchewan, making it an attractive integrated project," said John Lau, chief executive officer of the Canadian energy group in a news release.

The total cost of the project, which began in 2004, was below the budget of $500 million, the company said.

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