KEYFACT Energy
Suncor today announced it has closed the transaction to purchase a 5% interest in Syncrude from Mocal Energy.
The US$730 million, or approximately Cdn$925 million, purchase price is subject to closing adjustments and is based on an effective date of Jan.1, 2018.
Through this transaction Suncor's share in the Syncrude joint venture has increased from 53.74% to 58.74%. The Syncrude joint venture partners are Suncor (58.74%), Imperial Oil Resources (25%), Sinopec Oil Sands Partnership (9.03%) and Nexen Oil Sands Partnership (7.23%).