The cash deal with Petrochina subsidiary Phoenix Energy Holdings will leave the Brion Energy joint venture with its Chinese partner in the driver's seat.
Athabasca expects to net C$1.23 billion on the divestment of the project, which it supported via a 2010 put option with Phoenix.
"We have today opted to sell our remaining ownership in projects operated by Brion Energy," Athabasca chief executive Sveinung Svarte said.
"We
