09/21/2015 09:27 EDT | Updated 09/21/2016 01:12 EDT

Suncor's stake in Fort Hills oilsands project rising to 50.8%, Total's will fall

CALGARY — Suncor Energy (TSX:SU) will pay $310 million to acquire an additional 10 per cent interest in the Fort Hills oil sands project. The seller is Total E&P Canada Ltd., a subsidiary of Paris-based Total SA, which will retain a 29.2 per cent interest. Once the transaction closes, Suncor will own 50.8 per cent of the project and 20 per cent will be owned by Teck Resources Ltd.

The Canadian Press