Suncor gets go ahead to ramp up Firebag In-Situ plant production
CALGARY, Jul 23, 2008 (Canada NewsWire via COMTEX) ----Suncor Energy Inc. reports that, effective July 22, the Alberta Energy Resources Conservation Board (ERCB) has removed production constraints imposed on Suncor's Firebag in-situ oil sands operations.
Bitumen production from Firebag had been capped at approximately 42,000 barrels per day in September 2007 due to sulphur emissions that exceeded regulated limits. The ERCB has advised that issues at the site have been addressed sufficiently to lift the cap, but Suncor must meet a variety of conditions, including ensuring emissions remain at compliant levels and providing regular status reports.
"The removal of the cap reflects a lot of hard work to reduce emissions and put in place the planning and investments required to manage this concern going forward," said Steve Williams, chief operating officer. "We're pleased that the ERCB has recognized these accomplishments and we're looking forward to safely ramping up Firebag production."
With the cap lifted, Suncor expects to begin steaming in preparation for ramping up production from well pads that are currently shut in due to the regulatory limit.
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 "looking forward", "expected", 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: 69.22, -5.87, -7.81%) 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: 69.22, -5.87, -7.81%) 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.
SOURCE: Suncor Energy Inc.
http://www.foxbusiness.com/story/markets/industries/energy/suncor-energy...
