Suncor’s oil sands mining projects, located in the Athabasca region, are projected to produce a reliable, long-term energy supply while leveraging technology to minimize environmental and social impacts of resource development.
Suncor's oil sands mining operations are located near Fort McMurray in northern Alberta and include the Millennium and North Steepbank sites as well as the Suncor-operated Fort Hills mine. Suncor has a 58.74% interest in the Syncrude joint venture. Additionally, Suncor has a 100% interest in the Voyageur South mining lease. Suncor holds a 36.75% interest in a joint venture partnership with Total to develop the Joslyn oil sands mining project.
Millennium and North Steepbank
Bitumen is currently mined from the Millennium area which began production in 2001 and the North Steepbank area which began production in 2011.
Fort Hills is located in Alberta’s Athabasca region, 90 kilometres north of Fort McMurray and is recognized as one of the best undeveloped oil sands mining assets in the region. Suncor holds a 54.11% interest in the Suncor-operated project. The project is ramping up and is on track to achieve 90% of its planned production capacity of 194,000 barrels per day by the end of 2018. The mine life is expected to be in excess of 50 years at current planned production rates. The Fort Hills joint venture partners are Total E&P Canada Ltd. (24.58%) and Teck Resources Limited (21.31%). Fort Hills bitumen production is blended for shipment to market at the East Tank Farm Development, a joint venture between Fort McKay First Nation, Mikisew Cree First Nation and Suncor.
Suncor holds a 58.74% interest in the Syncrude joint venture following the acquisition of Mocal Energy’s 5% interest in 2018. Prior to this, Suncor had increased its interest in the Syncrude development from 12% to 53.74% through the Canadian Oil Sands and Murphy Oil acquisitions in 2016. Suncor’s expected production capacity from Syncrude is 205,590 bbls/d capacity of sweet synthetic crude oil. The Syncrude joint venture partners are Suncor (58.74%), Imperial Oil Resources (25%), Sinopec Oil Sands Partnership (9.03%) and Nexen Oil Sands Partnership (7.23%).
Forward-looking statements in this publication include references to: the intention of Suncor and Total to develop the Fort Hills and Josyln oil sands mining projects (which is expected to have a production capacity of 100,000 barrels of bitumen per day; the expectation that Voyageur South will produce 120,000 barrels per day of bitumen during an estimated 40-year operational life; and the projection that the growth projects will ensure a reliable long-term energy supply while leveraging technology to minimize environmental and social impacts of resource development. These statements are not guarantees of future performance and involve a number of risks and uncertainties, and actual results may differ materially from those expressed or implied. Suncor’s most recently filed annual information form/Form 40-F, annual report and quarterly 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 150-6 Avenue S.W., Calgary, Alberta T2P 3Y7, by calling 1-800-558-9071, or by email request to firstname.lastname@example.org 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.