Sunshine Oilsands (HKG:2012) said the repair and maintenance work ordered by the Alberta Energy Regulator (AER) will be performed on its only active project in West Ells.
The company estimates that the repairs will take two to three months depending on uncontrollable factors like weather and road conditions, a Tuesday filing with the Hong Kong Exchange stated.
The statement comes days after the AER ordered Sunshine Oilsands to suspend all wells, facilities, and pipelines, post an over CA$6 million security deposit, and provide care for its sites.
The regulatory agency said the company repeatedly failed to comply with regulatory requirements and promptly address compliance issues.
"This order is to ensure that the sites licensed to Sunshine Oilsands do not pose a risk to public safety or the environment," the AER said in a Nov. 18 news release, adding that non-compliance could lead to further enforcement actions, including an abandonment order.
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