The oil sands story (1960s, 1970s & 1980s)

The oil sands story

The 1960s is the birth of the company’s future. The U.S. parent company invests $250 million to establish the Great Canadian Oil Sands project in Fort McMurray. Some deem it “a daring venture into an unknown field” and “the biggest gamble in history.” It is the largest, single private investment in Canada’s history.

Construction begins in 1964, with then president and chairman J. Howard Pew, saying, “I am convinced this venture will succeed, and it will be the means of opening up reserves to meet the needs of the North American continent for generations to come.”

The 45,000 barrel per day project officially opens on September 30, 1967.

Milestones (1960s)

Milestones (1970s)

Milestones (1980s)