Suncor Energy receives Emerald Challenge Award
CALGARY, ALBERTA--(Marketwire - June 16, 2011) - Suncor Energy reported today that its TROTM tailings management process has won the 2011 Emerald Challenge Award. The award was presented by the Alberta Emerald Foundation during a ceremony held at the Citadel Theatre in Edmonton last night.
This year's Emerald Challenge Award, themed Alberta's Oil Sands, recognized an individual/group/business or government that has demonstrated a significant and ongoing commitment to environmental excellence and leadership in activities related to Oil Sands development in Alberta.
"We are truly honored to be recognized for our commitment to sustainable development," said Shelley Powell, vice president, Extraction Operations. "The TROTM process is a significant milestone on our sustainability journey and a tremendous source of pride for all of us here at Suncor."
Suncor's new approach for managing tailings, TROTM, was developed 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 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. Suncor intends to share details specific to its TROTM process with industry competitors so the environmental benefits of the innovation can be maximized.
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.
Emerald Awards are bestowed annually to recognize and reward environmental initiatives undertaken in Alberta. Nominations are received in 10 established categories and evaluated by a panel of knowledgeable judges with cross-sector experience.
For information about Suncor's TROTM process, visit www.suncor.com/tailings.
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," "targets," "plans," "schedule," 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 plans to spend more than $1 billion to implement our TROTMprocess and the expectation that the implementation of the process will result in significant improvements in the speed of oil sands tailings reclamation.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 first quarter of 2011 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 by referring to the company's profile on SEDAR at www.sedar.comor 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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