CALGARY, Alberta May 29 Total SA said
on Thursday it is suspending design and engineering work on its
C$11 billion ($10.15 billion)Joslyn oil sands mine in northern
Alberta and laying off up to 150 Canadian staff as it looks to
reduce costs at the project.
Andre Goffart, chief executive of the French oil major's
Canadian unit, said on a conference call that the company has
been working to reduce costs on the project since 2011, but not
enough progress had been made to reach a final investment
decision on the 100,000 barrel per day project.
($1 = 1.0839 Canadian Dollars)
(Reporting by Scott Haggett; Editing by David Gregorio)