Canadian Natural Resources Limited Horizon Update

Canadian Natural Resources Limited Horizon Update

canadian1 As was previously announced, Canadian Natural continues to evaluate an opportunity to debottleneck the Horizon fractionation tower and potentially increase production by an additional 5,000 bbl/d to 15,000 bbl/d of SCO for an estimated project capital cost of $70 million. It is estimated that this opportunity would coincide with the turnaround in the third quarter of 2017, effectively increasing the planned outage from 24 to 45 days. A final decision to proceed is expected in the second quarter of 2017. The Horizon Phase 3 expansion, which is targeted to add 80,000 bbl/d of SCO production is on schedule and on budget for commissioning and start up in the fourth quarter of 2017. The completion of the Horizon expansion provides significant sustainable zero decline production to the Company’s long-life low decline asset base. Canadian Natural is a senior oil and natural gas production company, with continuing operations in its core areas located in Western Canada, the U.K. portion of the North Sea and Offshore Africa. Source / More : Canadian Natural Resources Limited oilandgasOil and Gas News Undiluted !!! “The squeaky wheel gets the oil” Follow us: @OilAndGasPress on Twitter | OilAndGasPress on Facebook]]>

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