Patrick Dardis | RE/MAX Fort McMurray
Syncrude
Syncrude is Canada's largest single source of crude oil and the world's largest producer of oil from oil sands. In 2001, the company produced 81.4 million barrels of sweet crude oil- the equivalent of 223,000 bpd-and supplied Canada with 13% of it petroleum needs. Syncrude is currently in the middle of its multi-billion dollar Syncrude 21 expansion, which will significantly improve environmental and economic performance while increasing production to 350,000 bpd by 2005. The more than $5 billion Stage Three is one of the world's largest construction projects, and includes both an Upgrader expansion and the addition of a second production train at the Aurora Mine. Throughout the Syncrude 21 expansion, the company remains committed to improving energy efficiency and reducing impact on the environment. In fact, during Stage Three more than $1 billion will be invested in technologies to save energy and reduce emissions. Many of those initiatives are the direct result of breakthroughs in oil sands technologies. Each year Syncrude invests more than $30 million on research and development, making it one of Canada's top 50 R & D spenders. In addition, Syncrude spends in excess of $1 billion annually on goods, services and salaries. In 2001, more than $450 million was spent locally in the Wood Buffalo region. Syncrude is one of the largest private sector employers in Alberta, with 4,000 employees and a further 1,500 contractors. As well, Syncrude is Canada's largest industrial employer of Aboriginal people, with 10% of its immediate workforce and 13% of its total extended workforce comprised of Aboriginal people.
