Suncor Energy have announced it has closed the transaction to purchase TotalEnergies EP Canada Ltd, which includes the remaining 31.23% working interest in the Fort Hills Project.
The CAN$1.468 billion purchase price is subject to closing adjustments typical of transactions of this nature and is based on an effective date 1 April 2023.
As a result of the transaction, Suncor wholly own the Fort Hills Project, which is located in Alberta’s Athabasca region, 90 km north of Fort McMurray.