The company deferred the in-situ expansion in late 2014 due to falling crude oil prices.
After rebidding contracts and reworking construction — realising more than C$500 million (US$380 million) in project cost savings — the Canadian major is on track to commence building the 50,000 barrel per day expansion in the first half of 2017. Already about 20% complete, Cenovus said in November it spent a small amount of capital to complete phase G’s detailed engineering.
