Providing coverage of Alaska and northern Canada's oil and gas industryAugust 2004
| Vol. 9, No. 33 | Week of August 15, 2004 |
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Engineering firm counting on oil sands
Gary Park
SNC-Lavalin Group, a major Canadian engineering and construction firm, is counting on a wave of oil sands projects moving ahead, so long as oil prices settle above US$20 per barrel.CEO Jacques Lamarre told analysts Aug. 5 that although crude won’t “stay above US$40 a barrel forever,” his firm is confident that strong oil and natural gas prices will keep it on a steady growth path for many years, with the oil sands making a key contribution.He said the company expects to sign a contract for a major oil sands project in the next six weeks.
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