Jon Harding, Financial Post Canada
Published: Friday, July 07, 2006
CALGARY – Concerns about rising costs related to oilsands development in Alberta have been building for months, but a warning issued by Western Oil Sands Inc. is the first tangible evidence some projects and expansions might have trouble getting off the drawing board.
The partner in the joint-venture Athabasca Oil Sands Project (AOSP) said this week the cost to build a first expansion phase has soared 50% since last fall, when project operator Shell Canada Ltd. more than doubled an initial investment forecast to $7.3-billion.