April 29, 2008 / 1:28 PM / in 9 years

Petro-Canada plans Terra Nova, MacKay maintenance

CALGARY, Alberta, April 29 (Reuters) - Petro-Canada PCA.TO said on Tuesday it plans a 16-day maintenance shutdown beginning in mid-June at its Terra Nova oil field off the coast of Newfoundland and a two-week shutdown of its MacKay River oil sands operation next month.

The company, Canada’s No. 4 oil exploration and refining firm, included notice of the maintenance closures of the facilities in its first-quarter earnings report.

Petro-Canada earned C$1.08 billion, or C$2.22 a share, up from C$590 million, or C$1.19 a share, a year earlier.

Oil production at Terra Nova, 34 percent owned by Petro-Canada, averaged 126,457 barrels a day in March.

Petro-Canada’s partners in the field, 350 kilometers (217 miles) southeast of St. John‘s, Newfoundland, include Exxon Mobil Corp. (XOM.N) with 22 percent, Husky Energy Inc. (HSE.TO) with 12.5 percent, StatoilHydro (STL.OL) with 15 percent, Murphy Oil Corp. (MUR.N) with 12 percent, Mosbacher Operating Co. with 3.5 percent and Chevron Corp. (CVX.N) with 1 percent.

Petro-Canada’s MacKay River thermal oil sands project south of Fort McMurray, Alberta, averaged 23,500 barrels a day in the first quarter, a 2.9 percent drop from the year-prior period.

The company said the two-week major turnaround at MacKay River will begin in early May. ($1=$1.01 Canadian) (Reporting by Scott Haggett; Editing by Bernadette Baum)

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