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Sunshine SAGD project nears $500m cost

Another oil sands project is seeing its price tag go up.

Sunshine Oilsands says its West Ells thermal project is now going to cost almost 500 million dollars; up seven percent from the original estimate.

The site is set to start up later this year.

It’s a SAGD project about 60 kilometres north of town.

It’ll produce five thousand barrels per day initially, and eventually double that to ten thousand early next year.

The company says it eventually wants to produce 300-thousand BPD in the region.

It already has proposals in for two more SAGD projects.

April 23, 2013