Athabasca Oil Corp’s CEO says the company will likely sell its share in the Dover SAGD project.
PetroChina could buy the 40-percent stake at a cost of 1.3-billion dollars.
Sveinung Svarte says the approval of the project is what Athabasca expected.
“I’ve been working in many jurisdictions world-wide, but I think I’ve never seen a better developed, more professional regulatory system than Alberta. So, obviously we have faith in the system,” he said.
He says the project will open up about 16-hundred permanent jobs in the region once it’s up and running.
Svarte says it’s important not to forget the size of this project.
“You’re talking about 4.1 billion barrels of bitumen to be developed, 250-thousand barrels per day when it’s all fully developed, so it’s a very important sized project,” he said.
He says he respects the Fort McKay First Nation, and hopes to work with the community going forward.
August 7, 2013
