04 November 2013 - Total has reached a final investment decision to develop the Fort Hills oil sands mining project in Alberta, Canada, located some 90 km north of Fort McMurray. Production from Fort Hills is expected to start by late 2017 and to gradually reach the plateau of 180,000 bbl/d. With an expected mine life of 50 years based on current planned production rates, Fort Hills represents more than 3 billion barrels of resources, and strengthens Total’s global portfolio by adding geographic diversity and long-plateau production with limited geosciences risk. The estimated cost to develop the project over the next 4 years is approximately C$13.5bn (US$12.9bn). Total holds a 39.2% interest in the project with Suncor Energy (40.8%, operator) and Teck Resources (20%).

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