Suncor Energy’s highly troubled Terra Nova life extension oil project in Canada will not be on stream until at least the end of 2023, some 14 months behind schedule, raising serious questions about the operator’s contracting strategy and its use of state funds. Roger Jenkins, chief executive of US-based field partner Murphy Oil, told analysts yesterday: “We feel that the project will flow at year-end,” while stressing that “it is not going to be a significant part of our [production] volumes, if it does not”.
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