UPDATE 2-Suncor aims to sell up to C$4 bln in assets in 2010

* Targets asset sales worth C$2 bln-C$4 bln

* Output will fall by 10 percent after divestitures

* Q3 operating EPS C$0.23 vs C$0.87

* Shares up 1 Canadian cent at C$35.38 (Recasts with executive comments; In US dollars unless noted)

By Jeffrey Jones

CALGARY, Alberta, Nov 6 (Reuters) - Suncor Energy Inc (SU.TO) aims to jettison up to C$4 billion ($3.8 billion) in assets, including a third of its natural gas holdings, in 2010 as it looks to cut debt after its takeover of Petro-Canada, its chief executive said on Friday.

The sales by Canada's biggest oil company will reduce its overall production by 10 percent, but that will be made up quickly as Suncor embarks on new projects as industry conditions improve during the economic recovery, CEO Rick George said.

He made the remarks after Suncor, known for its dominance in northern Alberta's oil sands, reported a 64 percent drop in operating profit in its initial quarter with Petro-Canada operations integrated into its own, due to big drops in oil and natural gas prices.

Besides gas operations, Suncor will look to unload smaller interests in the North Sea, all of its assets in Trinidad and Tobago as well as a corporate aircraft.