United Kingdom

Profile: Suncor Energy Inc (SU.TO)

SU.TO on Toronto Stock Exchange

23 Aug 2019
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Suncor Energy Inc. (Suncor), is an integrated energy company. The Company is focused on developing Canada's petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. In addition, it explores for, acquires, develops, produces and markets crude oil and natural gas in Canada and internationally. It transports and refines crude oil, and markets petroleum and petrochemical products primarily in Canada. It also markets third-party petroleum products. Suncor conducts energy trading activities focused principally on the marketing and trading of crude oil, natural gas, power and byproducts.

Oil Sands

Suncor's Oil Sands segment, with assets located in the Athabasca oil sands of northeast Alberta, recovers bitumen from mining and in situ operations and either upgrades this production into synthetic crude oil (SCO) for refinery feedstock and diesel fuel, or blends the bitumen with diluent for direct sale to market. The Oil Sands segment includes Oil Sands operations and Oil Sands ventures. Oil Sands operations refer to Suncor's operated mining, extraction, upgrading, in situ and related logistics and storage assets in the Athabasca oil sands region. Oil Sands operations consist of Oil Sands Base operations and In Situ operations. Its Oil Sands Base operations include the Millennium and North Steepbank mining and extraction operations, integrated upgrading facilities known as Upgrader 1 and Upgrader 2, and the associated infrastructure for these assets, including utilities, cogeneration units, energy and reclamation facilities, such as Suncor's tailings reduction operations (TRO) assets. Its In Situ operations include oil sands bitumen production from Firebag and MacKay River and supporting infrastructure, such as central processing facilities, cogeneration units and hot bitumen infrastructure, including insulated pipelines, diluent import capabilities, and a cooling and blending facility, and related storage assets. In Situ production is either upgraded by Oil Sands Base, or blended with diluent and marketed directly to customers.

Oil Sands ventures operations include Suncor's interest in the Fort Hills mining project, where Suncor is the operator, and its interest in the Joslyn North mining prospect. The Company also holds a working interest in the Syncrude oil sands mining and upgrading joint arrangement, and holds an additional indirectly through its ownership of Canadian Oil Sands Limited (COS), which owns an interest in the Syncrude joint arrangement.

Exploration and Production

The Company's E&P segment consists of offshore operations off the east coast of Canada and in the North Sea, and onshore assets in North America, Libya and Syria. E&P Canada operations include Suncor's working interest in Terra Nova, which Suncor operates. Suncor also holds an interest in the Hibernia base project and an interest in the Hibernia Southern Extension Unit (HSEU). Suncor also holds interest in the White Rose base project and interest in the White Rose Extensions. Other than Terra Nova, all of the projects are operated by other companies. Suncor also holds interests in various exploration licenses offshore Newfoundland and Labrador, and Nova Scotia. E&P Canada also includes Suncor's working interests in unconventional natural gas properties in northeast British Columbia.

E&P International operations include Suncor's working interest in Buzzard and its working interest in Golden Eagle Area Development (GEAD). Both operations are located in the United Kingdom sector of the North Sea and are operated by another company. Suncor also holds interests in several exploration licenses offshore the United Kingdom and Norway. The Company owns, pursuant to exploration and production sharing agreements (EPSAs), working interests in the exploration and development of oilfields in the Sirte Basin in Libya. Suncor also owns, pursuant to a production sharing contract (PSC), an interest in the Ebla gas development in Syria.

Refining and Marketing

The Company's Refining and Marketing segment includes various operations, such as refining and supply, and marketing. Refining and supply operations refine crude oil and intermediate feedstock into a range of petroleum and petrochemical products. Refining and supply consists of Eastern North America operations, which include a refinery located in Montreal, Quebec, a refinery located in Sarnia, Ontario, and a lubricants business located in Mississauga, Ontario that manufactures and blends products, which are marketed across the world, and Western North America operations, which include refineries located in Edmonton, Alberta and Commerce City, Colorado. Other Refining and Supply assets include interests in a petrochemical plant, a sulfur recovery facility, pipelines and product terminals in Canada and the United States. Its Marketing operations sell refined petroleum products to retail, commercial and industrial customers through a combination of Company-owned, Petro-Canada and Sunoco branded-dealers in Canada, and other retail stations in Colorado, an across the nation commercial road transport network in Canada, and a bulk sales channel in Canada. Lubricant products are marketed across the world through Company-operated locations and distributor networks.

Company Address

Suncor Energy Inc

150 6th Avenue S.W., Stn M
PO Box 2844
P: +1403.2968000
F: +1403.2966636

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