TransCanada has been selected to design, build, own and operate the proposed Northern Courier pipeline. With an estimated capital cost of $660 million, the Northern Courier project will be a 90 ‐kilometer pipeline system that will transport bitumen and diluent between the Fort Hills mine site and the Voyageur Upgrader north of Fort McMurray. The Northern Courier pipeline is fully subscribed under long ‐term contract to service the Fort Hills Mine, which is jointly owned by Suncor, Total E&P Canada, and Teck Resources, and is estimated to contain approximately 3.4 bbbl of bitumen.

Sunshine Oilsands is in talks with China’s Sinopec and China Investment Corp. to reach an agreement to produce 200,000 bbls per day of bitumen in Alberta, a joint venture estimated at $6.7 billion. A memorandum of understanding between Sunshine and Sinopec was signed in January to co ‐operate on joint exploration of oilsands assets at three of Sunshine’s acreages (West Ells, Thickwood and Legend Lake) in the Athabasca region of northern Alberta. It is expected that the joint venture will enable full production of the Sunshine assets by 2019.