SUNCOR ENERGY LTD - Production Outage at Suncor Energy Oil Sands Plant
Toronto, Ontario, Oct 19, 2001 (Market News Publishing via COMTEX) -- Oil production from Suncor Energy Inc.'s oil sands operation will be interrupted for approximately ten days as the company performs repairs on a unit that was having mechanical problems.
Repairs will be made to the fractionator, a unit in the upgrader that separates hydrocarbon vapours into three components: napththa, kerosene and gas oil. Suncor's base plant, which had been averaging about 115,000 barrels per day, will not be producing oil while the maintenance occurs.
The commissioning of Project Millennium -- an expansion project that is expected to increase the production capacity of the plant to 225,000 barrels per day by 2002 -- has not been impacted by the maintenance shutdown of the base plant. Commissioning of the new facilities is proceeding on schedule. The new hydrogen plant recently went into production and significant portions of the extraction facilities and sulphur trains have been commissioned. Suncor has initiated start up of the Millennium cokers and is generating some oil from the new plant.
Suncor will take advantage of the down time to also bring forward some other routine maintenance to improve production reliability. The impact on the oil sands plant's year-end production target of 130,000 barrels per day will be impacted. Details will be made available October 24, when Suncor issues its third quarter financial results.
Suncor Energy is an integrated Canadian energy company. Suncor's Oil Sands business mines and upgrades oil sand and markets custom-blended refinery feedstock and diesel fuel, near Fort McMurray in Northern Alberta. Suncor is also a conventional natural gas producer in Western Canada; and operates a refining and marketing business in Ontario under the Sunoco brand. At the same time as Suncor meets today's energy needs, the company invests in alternative and renewable energy for the future. Suncor's common shares and preferred securities are listed for trading on the Toronto and New York stock exchanges.
This news release contains forward-looking statements that may be identified by words like "expected", "approximately" and similar expressions. These forward looking statements are not guarantees of future performance and actual results could differ materially, as a result risks and uncertainties that could include technical issues and uncertainties resulting from delays, changes in plans and the occurrence of unexpected events. These and other risk factors are discussed in more detail in Suncor's Annual and Quarterly Reports to shareholders, Annual Information Form and other documents filed with securities regulatory authorities.
CONTACT: TEL: (403) 269-8670 John Rogers Investor Relations
Website: suncor.com |
