Suncor Energy Inc. (TSX:T.SU,Stock Forum) is looking for a partnership in China to help build its oil sands projects.
Suncor would need a partner to help with costs and accessibility to highly skilled workers.
Canada faces a challenge when it comes to a shortage of highly skilled workers, which a Chinese partnership would help supplement.
In a published report, President and CEO Steve Williams said that he had held preliminary discussions with some Chinese companies on potential cooperation.
Currently, Suncor has a target of increasing its oil sands production capacity by about 10% per year through 2020.
The company is also planning the largest expansion project yet in oil sands, with its joint-venture partner Total SA (OTC:TTFNF, Stock Forum).
The expansion project would involve the construction of two new mines and an upgrader capable of producing 200,000 barrels per day of synthetic crude oil.
A decision on the project will be determined next year.
On Wednesday, Suncor was trading for $27.95 a share. The company has a market cap of $43.6 billion, based on $1.6 billion shares outstanding. The 52-week high and low was $39.60 and $23.97 respectively.