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Strathcona Resources Announces $2 Billion Partnership with Canada Growth Fund for Carbon Capture Project

Jul 10, 2024•almost 2 years ago

Contract Type

partnership

oil & energy

Description

Strathcona Resources Ltd. has announced a strategic partnership with Canada Growth Fund for the development of carbon capture and sequestration (CCS) infrastructure on its SAGD oil sands facilities across Saskatchewan and Alberta, with an investment of up to $2 billion.

Company Information

Company

Strathcona Resources Ltd

Location

888 3 St SW

About

Strathcona Resources is a Canadian oil and gas company focused on heavy oil production. The firm has a strong asset base and aims to enhance shareholder value through strategic acquisitions and operational efficiencies. It already owns a significant stake in MEG Energy. Strathcona is committed to creating a leading oil producer in Canada.

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Strategic partnership established

Partnership agreements typically involve technology integration and joint go-to-market strategies

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Companies with recent agreements are 2.3x more likely to make additional purchases within 6 months