Cenovus Energy has bought 50 percent of BP‘s non-operated interest in the Sunrise oil sands project.

Furthermore, BP is acquiring Cenovus’s interest in the Bay du Nord project in Eastern Canada.

Starlee Sykes, bp senior vice president, Gulf of Mexico & Canada, said, “This is an important step in our plans to create a more focused, resilient and competitive business in Canada. Bay du Nord will add sizeable acreage and a discovered resource to our existing portfolio offshore Newfoundland and Labrador. Along with bp’s active Canadian marketing and trading business, this will position bp Canada for strong future growth.”