Capital Markets | Capital Expenditure
Canadian Oil Sands Ltd. Tags 2013 Budget
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Canadian Oil Sands Limited's budget for 2013 supports continued progress on Syncrude's multi-year major capital projects program, which is scheduled to be largely complete by the end of 2014. This program is directed at improving environmental performance and maintaining a strong base of long-life crude oil production.
COS plans to invest about $1.3 billion at Syncrude in 2013. Approximately 63 per cent, or $836 million, will be invested in major projects to replace or relocate mining infrastructure and to develop facilities to reclaim tailings, a by-product of the mining process. About $393 million is directed to regular maintenance, which represents smaller projects and annually occurring expenditures to maintain production. The remaining $97 million reflects capitalized interest.
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