MEG gets final approval for Christina Lake Phase 3
Feb 13, 2012 at 12:54 pm in Business, News by tyler.king
MEG Energy has gotten the final green light for Phase 3 of its Christina Lake oil sands project.
The provincial Environment and Water department has given the company its approval notice for the 150 thousand barrel per day expansion.
President and CEO Bill McCaffrey says the approval means they have 210 thousand bpd of capacity now approved.
The company is hoping to increase its capacity tenfold by 2020.
Most of MEG’s almost one-and-a-half billion dollar capital budget this year will be spent on growing the Christina Lake project.
Published February 13, 2012