Suncor Energy recognized for reclamation efforts
CALGARY, ALBERTA--(Marketwire - March 4, 2011) - Suncor Energy today reported it has won the Major Reclamation Award from the Alberta Chamber of Resources. The award recognizes the importance of long-term corporate commitment to reclamation through innovation and improved reclamation techniques.
"We are very proud to receive this type of award," said Anne Marie Toutant, vice president, Mining Operations. "This award demonstrates that we deliver on our commitments to stakeholders by investing in technologies that help advance our environmental performance and reduce our tailings footprint."
Suncor has developed a new approach called TROTM for managing tailings at its oil sands mining operations near Fort McMurray. The process, which received regulatory approval in June 2010, is expected to result in significant improvement in the speed of oil sands tailings reclamation. Suncor plans to invest more than $1 billion over the next couple of years to implement the technology across its existing mining operations. Implementation towards full commercial scale operations is well under way.
Suncor and six other oil sands companies announced plans in December 2010 to work together in a unified effort to advance tailings management. Each company has pledged to share its existing tailings research and technology and to remove barriers to collaborating on future tailings research and development. Suncor intends to share details specific to its TROTM process. The companies are committing to future research investments to further accelerate tailings technology advances.
In 2010, Suncor marked an industry milestone by becoming the first oil sands company to achieve a solid surface on a decommissioned tailings pond - Pond 1, now named Wapisiw Lookout. A 220-hectare site located at Suncor's oil sands mining operations north of Fort McMurray, Pond 1 was Suncor's first storage pond for oil sands tailings when commercial production began in 1967.
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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 TROTMtechnology will result in significant improvement in the speed of oil sands tailings reclamation and the expectation that Suncor will invest more than $1 billion over the next couple of years to implement the 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 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 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.
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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