In this game, access to resource is key. The bigger the sandbox, the more sustainable the business — especially when you leverage technology, expertise and talent to create value. The Athabasca oil sands is the world’s second largest hydrocarbon basin. So, to be a world player in the energy industry, we believe it’s key to be a leader in the oil sands.

Not only do we have the fifth largest resource here, we also have an integrated SAGD and upgrading solution that will deliver the highest-quality synthetic crude oil in North America at a cost that is cheaper than the competition. This means we suffer the least in low oil price environments and benefit the most when prices recover.

With no exploration risk, our oil sands project is unique from the rest of our portfolio. The resource is known and the technology to recover it is proven. The first phase — just 10% of our total resource — is now up and running. Given our significant land position, we can replicate Long Lake Phase 1 up to nine more times, with each phase designed to provide predictable production and steady cash flow for 40 years.