FORT MCMURRAY, AB, May 30 /PRNewswire-FirstCall/ -- Suncor Energy Inc. confirmed today plans to shut down one of two upgraders at the company's oil sands operations near Fort McMurray to tie-in new facilities related to a planned expansion. The work, which is scheduled to begin May 31, 2007, is expected to last approximately 50 days. During this period, the other upgrader is expected to continue to operate at normal production capacity of about 125,000 barrels per day (bpd).
The tie-in of new facilities is part of a planned expansion of oil sands production capacity to a targeted 350,000 bpd in 2008 from current capacity of approximately 260,000 bpd. The work impacts Upgrader 2, which began operations in 2001.
Approximately 2,000 contractors will be involved in the tie-in work, which involves a number of facilities including the upgrader's cokers, vacuum unit, sulphur plant and cooling tower. Suncor will focus on completing the tie-in work in a safe manner while minimizing impacts to the environment. Although this tie-in work may result in periods of increased flaring and the potential for odours, Suncor intends to minimize these impacts and ensure emissions levels remain within regulated limits.
This news release contains forward-looking statements that address goals, expectations or projections about the future. These statements are based on Suncor's current goals, expectations, estimates, projections and assumptions, as well as its current budgets and plans for capital expenditures. Some of the forward-looking statements may be identified by the words "plan," "expected," "focus" "may," "targeted," "work", "scheduled", "intends" and similar expressions. These statements are not guarantees of future performance. Actual results could differ materially, as a result of factors, risks and uncertainties, known and unknown, to which Suncor's business is subject. Further discussion of the risks, uncertainties and other factors that could affect these plans, and any actual results, is included in Suncor's annual report to shareholders and other documents filed with regulatory authorities.
Suncor Energy Inc. is an integrated energy company headquartered in Calgary, Alberta. Suncor's oil sands business, located near Fort McMurray, Alberta, extracts and upgrades oil sands and markets refinery feedstock and diesel fuel, while operations throughout western Canada produce natural gas. Suncor operates a refining and marketing business in Ontario with retail distribution under the Sunoco brand. U.S.A. downstream assets include pipeline and refining operations in Colorado and Wyoming and retail sales in the Denver area under the Phillips 66(R) brand. Suncor's common shares (symbol: SU) are listed on the Toronto and New York stock exchanges.
Suncor Energy (U.S.A.) Inc. is an authorized licensee of the Phillips 66(R) brand and marks in the state of Colorado. Sunoco in Canada is separate and unrelated to Sunoco in the United States, which is owned by Sunoco, Inc. of Philadelphia.
