Cenovus, a Canadian energy company under CK Hutchison, will put the Lacrosse expansion project into production

CK Hutchison Holdings (00001.HK) internal publications show that Cenovus Energy's Narrows Lake expansion project will commence production for the first time.

CK Hutchison stated that in the coming weeks, Cenovus will achieve two milestones. First, the Narrows Lake expansion project located in Alberta will begin production; second, the West White Rose project located in the offshore waters of Eastern Canada will also complete its setup, marking significant achievements for Cenovus in its ongoing development projects for 2025 and beyond.

When the Narrows Lake expansion project begins production, the extracted crude oil will be transported via a 17-kilometer-long pipeline to the central processing facility at Christina Lake, with an expected additional production of 20,000 to 30,000 barrels of oil equivalent per day. In addition, Cenovus is also implementing improvement projects for the Christina Lake oil sands project and the Sunrise oil sands project, both located in Alberta, to enhance their output and efficiency.

As for the West White Rose project, CK Hutchison indicated that its concrete gravity structure was installed in June, and the upper facilities, which are set to arrive later, will also be completed, with production expected to commence in 2026. At that time, the project will produce an additional 40,000 barrels of oil equivalent per day, allowing Cenovus to sell products at high-profit Brent crude oil prices directly into the European market