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Reuters: Shell Canada’s Athabasca turnaround delayed

Mon Jun 12, 2006 9:42 AM EDT
TORONTO (Reuters) – Shell Canada Ltd. (SHC.TO: Quote) said on Monday that completion of scheduled maintenance at its Athabasca Oil Sands Project will be delayed beyond its previously announced eight weeks as extra work is needed.

Shell Canada, which owns 60 percent of the massive project, said the turnaround should now start in late June, building to fully integrated production rates by mid-July.

The Athabasca Oil Sands Project is a joint venture of Shell Canada, Chevron Canada (CVX.N: Quote) and Western Oil Sands (WTO.TO: Quote), with the latter two each owning 20 percent.

Shell’s share of the maintenance costs is expected to range between C$100 million to C$125 million, with most of the costs being incurred in the second quarter.

($1=$1.10 Canadian)

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