Horizon Oil Sands Project

HORIZON OIL SANDS PROJECT

The Horizon Oil Sands include a surface oil sands mining and bitumen extraction plant, complemented by on-site bitumen upgrading with associated infrastructure to produce high quality synthetic crude oil (“SCO”). Canadian Natural holds extensive leases that are estimated 3.6 billion barrels of proved and probable SCO reserves. The Horizon Oil Sands are located on these leases
just north of Fort McMurray, Alberta in the Athabasca region. Due to the massive resource base, the mine and plant facilities are expected to produce for decades to come without production declines normally associated with crude oil production.

Canadian Natural – Fort McMurray, Canada – 2005-2008