Suncor Energy set to begin scheduled maintenance at Oil Sands operation

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Suncor Energy set to begin scheduled maintenance at Oil Sands operation

15/05/2008 6:41pm

PR Newswire (US)

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FORT MCMURRAY, AB, May 15 /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 complete maintenance during a scheduled shutdown. The work, which is scheduled to begin May 16, 2008, is expected to last approximately 30 days. During this period, the other upgrader is expected to continue to operate at production volumes of approximately 200,000 barrels per day (bpd). The shutdown is planned to support safe, reliable operation of upgrading assets as Suncor works to achieve its average oil sands production targets of 275,000 to 285,000 bpd in 2008. Approximately 2,000 contractors will be involved in the work. Suncor will focus on completing the work in a safe manner while minimizing impacts to the environment. Although this 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. DATASOURCE: Suncor Energy Inc. CONTACT: Shawn Davis, (403) 920-8379

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