1998 Winner: Outstanding Commercial Achievement in Alberta Science and Technology (>25M)
Syncrude Canada started operations 20 years ago, almost as an experiment in oil sands technology, and has grown to become the second largest petroleum producer in Canada with revenues of $2 billion per year. In April of 1998, Syncrude produced its billionth barrel of crude oil, an achievement reached five years ahead of schedule, and expects to produce its next billion in just nine years.
This enviable growth can be attributed to continuous improvements in all areas of its operation, driven largely by gains in science and technology. Syncrude is one of Canada’s largest private-sector research and development investors with $30 million in annual expenditures. The company’s 100-person research facility works collaboratively with scientists and technologists through partnerships with universities and other research organizations.