By Josh Beckerman

Imperial Oil Ltd. (IMO, IMO.T) has made a "final investment decision" to proceed with its Aspen oil sands project northeast of Fort McMurray, Alberta.

The Aspen project has a C$2.6 billion cost estimate and is expected to create about 700 jobs during peak construction and more than 200 during operations.

Construction is slated to begin in the fourth quarter, and startup is expected in 2022.

As of July, Exxon Mobil Corp. (XOM) owned about 69.6% of Imperial.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

November 06, 2018 20:04 ET (01:04 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
Grafico Azioni Imperial Oil (TSX:IMO)
Storico
Da Mar 2024 a Apr 2024 Clicca qui per i Grafici di Imperial Oil
Grafico Azioni Imperial Oil (TSX:IMO)
Storico
Da Apr 2023 a Apr 2024 Clicca qui per i Grafici di Imperial Oil