Suncor’s plans to replace the depleting reserves ran into political hurdles last year, when the federal government warned the company that its initial proposal to extend Base Mine would not pass an environmental review because projected carbon emissions were too high.
Suncor continues to work on a regulatory application for the extension project and is also looking at other options, interim chief executive Kris Smith told analysts on call to discuss earnings.
These include developing thermal oil sands projects just east of Base Plant, increasing production from its Firebag project nearby and boosting supply from its Fort Hills mine, which is linked to Base Plant via a 40,000 barrel-per-day pipeline.
“It’s too early to call in terms of which horse is in the lead race but those options are being worked very hard,” Smith said.
Last October, Suncor agreed to buy a larger stake in the Fort Hills oil sands mine from Teck…
