Investor Presentaiton
Capital expenditure forecast
Low sustaining capital requirement with select growth opportunities
Annual capital expenditure¹ forecast
$B
2
0
2021
2022
2023
2024
2025
2026
■Sustaining
■Growth/GHG
◆Prior outlook
1 See supplemental information for definition
2 Sustaining capital represents anticipated spending to maintain productive capacity of existing assets
■ 2022 target of $1.4B, down $0.2B from previous plan
Sustaining capital² averages ~$1B over period
▷ Predominantly Upstream
> Kearl in-pit tailings drives higher spend in 2022
▷ Upstream sustaining capital averages ~$5/bbl
High return Growth/GHG capital averages ~$0.4B
▷ Kearl debottlenecking and boiler flue gas
> Cold Lake Grand Rapids and other solvent technologies
> Strathcona renewable diesel
Imperial |2022 | 64View entire presentation