Suncor signs oilsands lease development MOU with Fort McKay First Nation
BNN Bloomberg
Suncor Energy Inc. says it has signed a memorandum of understanding with the Fort McKay First Nation on a prospective oilsands lease development opportunity on reserve lands.
The Calgary-based oilsands company says it is progressing early-stage technical and commercial feasibility assessments to determine the quality and quantity of economically recoverable bitumen ore in the area, which is located within the Regional Municipality of Wood Buffalo in northern Alberta and on the Fort McKay First Nation's traditional territory.
Suncor's executive vice-president for oilsands Peter Zebedee said in a news release that the partnership would give the First Nation the opportunity to govern oilsands activity on their land and fully participate and benefit from resource development.
He said the potential opportunity could provide Suncor with bitumen supply optionality post-2040.
