Canadian natural resources limited announces swap transaction

Calgary, alberta--(newsfile corp. - january 29, 2025) - canadian natural resources limited (tsx: cnq) (nyse: cnq) ("canadian natural" or the "company") announces that pursuant to a 2017 agreement with shell canada limited and affiliates ("shell") and as a result of certain conditions being met, canadian natural and shell are transacting an asset swap related to the athabasca oil sands project ("aosp"). effectively, canadian natural will swap 10% of its working interest in the scotford upgrader and quest carbon capture and storage ("quest") facilities for shell's remaining 10% working interest in the aosp mines, associated reserves and additional various working interests in a number of other non-producing oil sands leases.
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