Husky Energy Incorporated Sunrise oil sands project is reporting to spend 8-percent more in 2013 than previous estimates.
Reuters reported that yesterday the 60-thousand barrel per day project, a joint venture with BP will cost $2.7-billion.
It is Canada’s third integrated oil company, located on the world’s third-largest crude oil reserve.
The Hong Kong run company isn’t saying why the cost has increased, analysts are saying its because of material costs, weak planning and a limited supply of skilled labour.
The project is currently under construction and is expected to open in 2014.
December 4th, 2012
