Welcome!

News Feed Item

GE and Suncor Energy announce new investments toward improving environmental performance in Alberta's oil sands

CALGARY, ALBERTA -- (Marketwired) -- 07/08/14 -- GE (NYSE:GE) and Suncor Energy (NYSE:SU) (TSX:SU) announced today the signing of two agreements which provide the opportunity for an investment of up to approximately $18 million. These agreements, involving other members from Canada's Oil Sands Innovation Alliance (COSIA), are expected to enable the development of new technologies to reduce greenhouse gas emissions and water usage in the oil sands.

One agreement relates to a promising oil sands water treatment pilot project expected to reduce water use, energy consumption and greenhouse gas emissions, while simultaneously reducing capital and operating costs for in situ oil sands operators. An existing partnership between GE, Suncor and Alberta Innovates - Energy and Environment Solutions (AI-EES) has been extended into a Joint Industry Project within the collaboration framework of COSIA. With new support from Devon Canada Corporation and ConocoPhillips Canada Resources Corp., the group remains committed to further testing produced water treatment technologies in the steam-assisted gravity drainage (SAGD) method of extraction.

In addition to this pilot project, six COSIA member companies have also signed a Memorandum of Understanding to pursue other Joint Industry Projects with a potential investment of up to approximately $13 million. These projects are expected to develop technologies leading to even further environmental performance improvements, primarily in the areas of greenhouse gas reductions and advances in water treatment technology.

"Today's announcements are a step toward a new generation of environmental technologies," notes Elyse Allan, President and CEO GE Canada. "With the ongoing input of Alberta Innovates - Energy and Environment Solutions (AI-EES), we look forward to collaborating with COSIA member companies to fast-track technology development in Canada's oil industry, which is an important driver of the country's economy."

"We have a world-class resource in Canada's oil sands that will supply energy for decades to come," said Steve Williams, Suncor president and chief executive officer. "And, responsible development of this resource is as important to everyone in the industry as it is to our stakeholders. By collaborating with our industry peers, cooperating with government bodies, and - of course - teaming up with companies like GE who have internationally-renowned technical expertise, we are continuing to take steps toward implementing innovative technologies that will make a difference in continued environmental improvements."

Background - The SAGD Produced Water Treatment pilot project is expected to cost approximately $20 million in total (including approximately $5 million in new funding), and is currently running at Suncor's MacKay River facility, following preliminary lab work dating back to late 2011. During the in situ process, steam is injected into wells to mobilize bitumen, before being pumped to the surface as a stream of bitumen and condensed steam (water).This stream passes through de-oiling processes to remove most of the bitumen, but the remaining produced water needs further treatment before it can be re-used again as steam. The SAGD Produced Water Treatment pilot is testing new technology so water can be treated more efficiently, and to enable increased re-use of water within the in situ process. The additional support from COSIA member companies (as mentioned above) will help extend the pilot's testing phases to obtain more data, and allow for additional laboratory-scale testing to further refine the processes involved in the pilot. Extending the project to COSIA members will also allow improvements to be shared across the oil sands sector.

Forward-looking statements in this news release include those related to: new technologies, which are expected to: (i) reduce greenhouse gas emissions and water usage in the oil sands; (ii) reduce water use, energy consumption and greenhouse gas emissions, while simultaneously reducing capital and operating costs for in situ oil sands operators; and (iii) further environmental performance improvements, primarily in the areas of greenhouse gas reductions and advances in water treatment technology; and the SAGD Water Treatment pilot project, which is expected to cost approximately $20 million in total. Forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties, some that are similar to other oil and gas companies and some that are unique to our company. Suncor's actual results may differ materially from those expressed or implied by our forward-looking statements and you are cautioned not to place undue reliance on them.

Suncor's Quarterly Report and Management's Discussion & Analysis dated April 28, 2014 and Suncor's most recently filed Annual Information Form/Form 40-F, Annual Report to Shareholders and other documents it files from time to time with securities regulatory authorities describe the risks, uncertainties, material assumptions and other factors that could influence actual results and such factors are incorporated herein by reference. Copies of these documents are available without charge from Suncor at 150 6th Avenue S.W., Calgary, Alberta T2P 3Y7, by calling 1-800-558-9071, or by email request to [email protected] or by referring to the company's profile on SEDAR at sedar.com or EDGAR at sec.gov. Except as required by applicable securities laws, Suncor disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Suncor Energy is Canada's leading integrated energy company. Suncor's operations include oil sands development and upgrading, conventional and offshore oil and gas production, petroleum refining, and product marketing under the Petro-Canada brand. A member of Dow Jones Sustainability indexes, FTSE4Good and CDP, Suncor is working to responsibly develop petroleum resources while also growing a renewable energy portfolio. Suncor is listed on the UN Global Compact 100 stock index and the Corporate Knights' Global 100. Suncor's common shares (symbol: SU) are listed on the Toronto and New York stock exchanges.

For more information about Suncor Energy visit our web site at suncor.com, follow us on Twitter @SuncorEnergy, read our blog, OSQAR or come and See what Yes can do.

GE (NYSE:GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works.

For more information about GE Canada visit our web site at www.ge.com/ca follow us on Twitter @GE_Canada.

Alberta Innovates -- Energy and Environment Solutions (AI-EES) is the lead agency advancing energy and environmental technology innovation in Alberta. AI-EES serves as a catalyst for the development of innovative, integrated ways to convert Alberta's natural resources into market-ready, environmentally responsible energy and the sustainable management of Alberta's water resources.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
A critical component of any IoT project is the back-end systems that capture data from remote IoT devices and structure it in a way to answer useful questions. Traditional data warehouse and analytical systems are mature technologies that can be used to handle large data sets, but they are not well suited to many IoT-scale products and the need for real-time insights. At Fuze, we have developed a backend platform as part of our mobility-oriented cloud service that uses Big Data-based approache...
Peak 10, Inc., has announced the implementation of IT service management, a business process alignment initiative based on the widely adopted Information Technology Infrastructure Library (ITIL) framework. The implementation of IT service management enhances Peak 10’s current service-minded approach to IT delivery by propelling the company to deliver higher levels of personalized and prompt service. The majority of Peak 10’s operations employees have been trained and certified in the ITIL frame...
trust and privacy in their ecosystem. Assurance and protection of device identity, secure data encryption and authentication are the key security challenges organizations are trying to address when integrating IoT devices. This holds true for IoT applications in a wide range of industries, for example, healthcare, consumer devices, and manufacturing. In his session at @ThingsExpo, Lancen LaChance, vice president of product management, IoT solutions at GlobalSign, will teach IoT developers how t...
As the rapid adoption of containers continues, companies are finding that they lack the operational tools to understand the behavior of applications deployed in these containers, and how to identify issues in their application infrastructure. For example, how are multiple containers within an application impacting each other’s performance? If an application’s service is degraded, which container is to blame? In the case of an application outage, what was the root cause of the outage?
Digital payments using wearable devices such as smart watches, fitness trackers, and payment wristbands are an increasing area of focus for industry participants, and consumer acceptance from early trials and deployments has encouraged some of the biggest names in technology and banking to continue their push to drive growth in this nascent market. Wearable payment systems may utilize near field communication (NFC), radio frequency identification (RFID), or quick response (QR) codes and barcodes...
SYS-CON Events announced today that CollabNet (www.collabnet.com) a global leader in enterprise software development and delivery solutions that help customers create high-quality applications at speed, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. The CEO of CollabNet Flint Brenton will also present about DevOps challenges in today’s global, open, and heterogeneous world of software development.
SYS-CON Events announced today that Peak 10, Inc., a national IT infrastructure and cloud services provider, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Peak 10 provides reliable, tailored data center and network services, cloud and managed services. Its solutions are designed to scale and adapt to customers’ changing business needs, enabling them to lower costs, improve performance and focus inter...
Much of the value of DevOps comes from a (renewed) focus on measurement, sharing, and continuous feedback loops. In increasingly complex DevOps workflows and environments, and especially in larger, regulated, or more crystallized organizations, these core concepts become even more critical. In his session at @DevOpsSummit at 18th Cloud Expo, Andi Mann, Chief Technology Advocate at Splunk, will show how, by focusing on 'metrics that matter,' you can provide objective, transparent, and meaningfu...
We're entering the post-smartphone era, where wearable gadgets from watches and fitness bands to glasses and health aids will power the next technological revolution. With mass adoption of wearable devices comes a new data ecosystem that must be protected. Wearables open new pathways that facilitate the tracking, sharing and storing of consumers’ personal health, location and daily activity data. Consumers have some idea of the data these devices capture, but most don’t realize how revealing and...
The demand for organizations to expand their infrastructure to multiple IT environments like the cloud, on-premise, mobile, bring your own device (BYOD) and the Internet of Things (IoT) continues to grow. As this hybrid infrastructure increases, the challenge to monitor the security of these systems increases in volume and complexity. In his session at 18th Cloud Expo, Stephen Coty, Chief Security Evangelist at Alert Logic, will show how properly configured and managed security architecture can...
In the world of DevOps there are ‘known good practices’ – aka ‘patterns’ – and ‘known bad practices’ – aka ‘anti-patterns.' Many of these patterns and anti-patterns have been developed from real world experience, especially by the early adopters of DevOps theory; but many are more feasible in theory than in practice, especially for more recent entrants to the DevOps scene. In this power panel at @DevOpsSummit at 18th Cloud Expo, moderated by DevOps Conference Chair Andi Mann, panelists will dis...
There is an ever-growing explosion of new devices that are connected to the Internet using “cloud” solutions. This rapid growth is creating a massive new demand for efficient access to data. And it’s not just about connecting to that data anymore. This new demand is bringing new issues and challenges and it is important for companies to scale for the coming growth. And with that scaling comes the need for greater security, gathering and data analysis, storage, connectivity and, of course, the...
The IETF draft standard for M2M certificates is a security solution specifically designed for the demanding needs of IoT/M2M applications. In his session at @ThingsExpo, Brian Romansky, VP of Strategic Technology at TrustPoint Innovation, will explain how M2M certificates can efficiently enable confidentiality, integrity, and authenticity on highly constrained devices.
SYS-CON Events announced today the Docker Meets Kubernetes – Intro into the Kubernetes World, being held June 9, 2016, in conjunction with 18th Cloud Expo | @ThingsExpo, at the Javits Center in New York, NY. Register for 'Docker Meets Kubernetes Workshop' Here! This workshop led by Sebastian Scheele, co-founder of Loodse, introduces participants to Kubernetes (container orchestration). Through a combination of instructor-led presentations, demonstrations, and hands-on labs, participants learn ...
See storage differently! Storage performance problems have only gotten worse and harder to solve as applications have become largely virtualized and moved to a cloud-based infrastructure. Storage performance in a virtualized environment is not just about IOPS, it is about how well that potential performance is guaranteed to individual VMs for these apps as the number of VMs keep going up real time. In his session at 18th Cloud Expo, Dhiraj Sehgal, in product and marketing at Tintri, will discu...