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BP, Husky Start Work on Sunrise Canadian Oil Sands Project

Nov. 29 (Bloomberg) -- BP Plc and Husky Energy Inc. agreed to start work building the first phase of the Sunrise Energy Project in Canada’s northern Alberta province.

The partners plan to award about C$2 billion ($1.96 billion) in contracts to tap oil sands, Husky said today in a statement. First oil will be produced in 2014, Sheila Williams, a London-based spokeswoman, said by phone today.

The first phase of the project, which may eventually yield at least 3.7 billion barrels of oil, will cost C$2.5 billion, compared with an earlier prediction of about C$4 billion, Calgary-based Husky said in January. BP and Husky are equal partners in Sunrise, which may pump 200,000 barrels a day in 2020.

In April, a group of BP shareholders opposed the company’s oil sand projects because of risks and environmental concerns.

To contact the reporter on this story: Eduard Gismatullin in London at egismatullin@bloomberg.net

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net

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