Duvernay PetroChina Canada Inc. says it will be hiring engineers and technical specialists as it creates a new operating team after the end of an eight-year partnership in an Alberta oilfield.
PetroChina and Ovintiv Inc. — formerly known as Encana Corp. — say they have agreed to terminate their joint venture formed in 2012 to own and develop Duvernay shale assets in west-central Alberta.
“Full ownership and operatorship of the Duvernay asset is a significant step in the evolution of PCC’s business,” said Jilin Fu, PCC president and CEO, in a news release.
“It is also a major development in our upstream capabilities, which include increasing production at our MacKay River (oilsands) commercial project in northern Alberta, and continuing progress with our Groundbirch tight gas asset in British Columbia which will provide equity gas for our interest in LNG Canada.”