Suncor provides update on Syncrude recovery plan

CALGARY, Alberta, July 09, 2018 (GLOBE NEWSWIRE) -- Suncor today provided an update on the Syncrude Oil Sands facility following the site wide power disruption on June 20.

Preliminary investigation results indicate that the cause of the disruption was a transformer trip in Syncrude’s power house resulting in a rapid site wide loss of power and steam generation. As a result, all process units were brought down. There were no injuries or safety incidents as a result of this outage.

Syncrude has developed a return to service plan. Power and steam systems have been fully restored, the assessment and repair for the transformer is underway, and the safe and staged return to operations has begun.  One coker, producing approximately 150,000 barrels per day (bbls/d), is expected to return to service during the second half of July. A second coker, producing approximately 100,000 bbls/d, is expected to return to service during the first half of August.

However, coke removal is required on the remaining coker due to the nature of the shutdown. In order to mitigate the impact, Syncrude will investigate advancing some of the planned maintenance for this coker that had been originally scheduled for the fall of 2018 and spring of 2019.

Pipeline shipments of treated product are estimated to be approximately 60% to 70% of capacity for August.  It is expected that Syncrude will ramp up to full production in early to mid-September.

Suncor’s Corporate Guidance will be updated with the second quarter results on July 25, 2018.

Legal Advisory – Forward-Looking Information

This news release contains certain forward-looking information and forward-looking statements (collectively referred to herein as “forward-looking statements”) within the meaning of applicable Canadian and U.S. securities laws. Forward-looking statements in this news release include references to: Syncrude’s return to service plan; the expectation that one coker, producing approximately 150,000 bbls/d, will return to service during the second half of July; the expectation that a second coker, producing approximately 100,000 bbls/d, will return to service during the first half of August; the expectation that Syncrude will investigate advancing some of the planned maintenance for the remaining coker that had been originally scheduled for the fall of 2018 and spring of 2019; that pipeline shipments of treated product are estimated to be approximately 60% to 70% of capacity for August; the expectation that Syncrude will ramp up to full production in early to mid-September; and that Suncor’s Corporate Guidance will be updated with the second quarter results on July 25, 2018. Forward-looking statements may be identified by words like “plan”, “expected”, “will”, “estimated” and similar expressions.