Suncor, Fort McKay First Nation sign deal for tank farm

Suncor Energy Inc., Calgary, and Fort McKay First Nation signed a participation agreement for Suncor’s East Tank Farm Development in the Wood Buffalo area of Alberta.

Fort McKay will pay 34.3% of the capital cost of the project, which is under construction and expected to be operational in second-quarter 2017. The cost to Fort McKay is anticipated to be about $350 million, payable upon closing. The transaction is subject to a number of closing conditions.

The tank farm will consist of bitumen storage, blending and cooling facilities, and connectivity to third-party pipelines. Suncor will be operator.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Making DDoS Mitigation Part of Your Incident Response Plan: Critical Steps and Best Practices

Like a new virulent strain of flu, the impact of a distributed denial of service (DDoS) attack is...

The Multi-Tax Challenge of Managing Excise Tax and Sales Tax

To be able to accurately calculate multiple tax types, companies must be prepared to continually ...

Operational Analytics in the Power Industry

Cloud computing, smart grids, and other technologies are changing transmission and distribution. ...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...