VANCOUVER - The world's insatiable thirst for oil is delivering another huge order for the giant mining trucks built in Decatur.

Finning International, the world's largest Caterpillar Inc. dealer based in Vancouver, said Canadian oil sands mining company Suncor Energy is buying 22 of the latest 797B model, the world's biggest truck with a price tag of about $5 million apiece.

The purchase includes a 10-year service agreement covering parts and labor, locking in more lucrative orders for Caterpillar's Decatur operations. Suncor's total vehicle fleet, after the purchase, will include 51 of the 797s.

In the same deal, worth a combined total of more than $359 million in U.S. dollars, Suncor also is buying 19 D11 tracked bulldozers and five D8 tracked dozers, all built by Caterpillar.

The equipment is due to be delivered during the rest of this year and into 2009 and reflects boom times in the vast Canadian oil sands, which are chemically cooked to extract the oil trapped inside. Once too expensive to be mined profitably on a big scale, the soaring price of crude - breaking all records at about $125-plus a barrel - now means the Canadian miners can't shovel the sand fast enough to satisfy demand.

Ed Faulk, product marketing representative for the 797s based at the Decatur plant, said Caterpillar products have proven themselves and remain the top choice for the Canadian mining companies. He said the demand for huge trucks has expanded as the pace of mining has grown.

"When the 797 was first introduced (in 1998), an order for six or eight was fantastic," Faulk said. "In today's market, orders of 20 aren't that uncommon. But this order of 22 is still, definitely, a very large order."

He said the service contract that goes with it means orders for parts will continue far into the future, as the rugged 797s have long lives. "We've got 797s today that have been running for over 60,000 hours and in service for more than 10 years, and nobody is getting ready to shut one of them down," Faulk added. "If I had 100 more 797s, I could sell them all up there (in Canada and other mine sites) tomorrow."

Faulk said the economics of oil sands mining mean a very rapid return on investment. One truck holds enough sand to deliver about 200 barrels of oil, which, priced at $125 a barrel and assuming that truck dumps 3½ loads an hour, means the vehicle also is earning almost $88,000 an hour. At that rate, a truck can pay for itself in about 56 hours.

"In today's economics, the decision whether to buy a new 797 is a lot easier to make," Faulk said.

Mike Waites, president and chief executive officer of Finning, told shareholders that he sees the good times continuing to roll. "New equipment sales remain at attractive levels, and we continue to build the large equipment fleets in our territories," Waites added.

"The large equipment (especially mining equipment) will generate attractive levels of parts and service revenue once it has been in service for a couple of years."

The oil sand mines offer some of the most brutal conditions on Earth. Sticky and abrasive in summer, in winter temperatures drop to minus 40 degrees. Faulk said the big trucks run around the clock and never get shut off until they're in the shop for repairs.

"That kind of operation isn't necessarily good for the truck but, in those conditions, if you shut one down, after about two hours you won't get it started again," Faulk said.

Fuel economy isn't a big priority either. The giant trucks, working in conditions that make it feel like they are continually driving uphill, burn about 60 to 70 gallons of diesel an hour.

Tony Reid can be reached at treid@herald-review.com or 421-7977.