Suncor Energy recognized for innovative tailings management process
CALGARY, ALBERTA--(Marketwire - Nov. 17, 2010) - Suncor Energy today reported it has won a 2010 ASTech award for its TROTM tailings management process. The process, which received regulatory approval in June 2010, is expected to result in significant improvement in the speed of oil sands tailings reclamation.
The award, for outstanding achievement in environmental technology and innovation, was presented to the company's Tailings Reduction Operations team on Nov. 12 during a dinner event in Edmonton.
"Thanks to the team's multi-functional expertise, leadership, and tireless dedication, Suncor is in a position to implement its new tailings technology as part of our effort to reduce the environmental impact of tailings ponds," said Shelley Powell, Suncor's vice president, Oil Sands Extraction. "This is something we should all be extremely proud of."
ASTech awards are bestowed annually by the Alberta Science and Technology Leadership Foundation to celebrate and raise public awareness of the world class work being done by Albertans in science and technology. Award nominees' work is judged by an independent panel representing a cross section of industry, academia and research.
The company began researching, developing and testing TROTM technology in 2003. With regulatory approvals received earlier this year, Suncor expects to invest more than $1 billion to implement the technology across its existing mining operations.
Tailings are a mixture of fine clay, sands, water and residual bitumen produced through the oil sands extraction process. As tailings settle, a portion will eventually form mature fine tailings (MFT), a substance that has historically taken many decades to firm up sufficiently for reclamation. During the TROTM process, MFT is mixed with a polymer flocculent and then deposited in thin layers over sand beaches with shallow slopes. This drying process occurs over a matter of weeks, allowing more rapid reclamation activities to occur. The resulting product is a dry material that can be reclaimed in place or moved to another location for contouring and replanting with native vegetation.
For information about Suncor's TROTM process, visit www.suncor.com/tailings.
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Certain statements in this news release constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation (collectively, "forward-looking statements"). All forward-looking statements are based on Suncor's current expectations, estimates, projections, beliefs and assumptions based on information available at the time the statement was made and in light of Suncor's experience and its perception of historical trends.
Some of the forward-looking statements may be identified by words like "expected," "anticipates," "approximately," "estimates," "plans," "scheduled," "intends," "may," "believes," "projects," "indicates," "could," "focus," "vision," "goal," "proposed," "target," "objective," "continue" and similar expressions. In addition, all other statements that address expectations or projections about the future, including statements about our strategy for growth, costs, schedules, production volumes, operating and financial results and expected impact of future commitments, are forward-looking statements. Forward-looking statements in this news release include references to: the expectation that the TROTM technology will result in significant improvement in the speed of oil sands tailings reclamation and the expectation that Suncor will invest more than $1 billion to implement the TROTM technology across its existing mining operations. Forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties, some that are similar to other oil and gas companies and some that are unique to our company. Suncor's actual results may differ materially from those expressed or implied by our forward-looking statements and you are cautioned not to place undue reliance on them.
Suncor's Earnings Release, Quarterly Report and Management's Discussion & Analysis for the third quarter of 2010 and its most recently filed Annual Information Form/Form 40-F, Annual Report to Shareholders and other documents it files from time to time with securities regulatory authorities describe the risks, uncertainties, material assumptions and other factors that could influence actual results and such factors are incorporated herein by reference. Copies of these documents are available without charge from Suncor at 150 6th Avenue S.W., Calgary, Alberta T2P 3Y7, by calling 1-800-558-9071, or by email request to email@example.com or by referring to the company's profile on SEDAR at www.sedar.com or EDGAR at www.sec.gov. Except as required by applicable securities laws, Suncor disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Suncor Energy Inc. is Canada's premier integrated energy company. Suncor's operations include oil sands development and upgrading, conventional and offshore oil and gas production, petroleum refining, and product marketing under the Petro-Canada brand. While working to responsibly develop petroleum resources, Suncor is also developing a growing renewable energy portfolio. Suncor's common shares (symbol: SU) are listed on the Toronto and New York stock exchanges.
For more information about Suncor Energy Inc. please visit our web site at www.suncor.com.
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