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
Large scale deployments present unique planning challenges, system commissioning hurdles between IT and OT and demand careful system hand-off orchestration. In his session at @ThingsExpo, Jeff Smith, Senior Director and a founding member of Incenergy, will discuss some of the key tactics to ensure delivery success based on his experience of the last two years deploying Industrial IoT systems across four continents.
Redis is not only the fastest database, but it is the most popular among the new wave of databases running in containers. Redis speeds up just about every data interaction between your users or operational systems. In his session at 19th Cloud Expo, Dave Nielsen, Developer Advocate, Redis Labs, will share the functions and data structures used to solve everyday use cases that are driving Redis' popularity.
Basho Technologies has announced the latest release of Basho Riak TS, version 1.3. Riak TS is an enterprise-grade NoSQL database optimized for Internet of Things (IoT). The open source version enables developers to download the software for free and use it in production as well as make contributions to the code and develop applications around Riak TS. Enhancements to Riak TS make it quick, easy and cost-effective to spin up an instance to test new ideas and build IoT applications. In addition to...
Predictive analytics tools monitor, report, and troubleshoot in order to make proactive decisions about the health, performance, and utilization of storage. Most enterprises combine cloud and on-premise storage, resulting in blended environments of physical, virtual, cloud, and other platforms, which justifies more sophisticated storage analytics. In his session at 18th Cloud Expo, Peter McCallum, Vice President of Datacenter Solutions at FalconStor, discussed using predictive analytics to mon...
Identity is in everything and customers are looking to their providers to ensure the security of their identities, transactions and data. With the increased reliance on cloud-based services, service providers must build security and trust into their offerings, adding value to customers and improving the user experience. Making identity, security and privacy easy for customers provides a unique advantage over the competition.
"We've discovered that after shows 80% if leads that people get, 80% of the conversations end up on the show floor, meaning people forget about it, people forget who they talk to, people forget that there are actual business opportunities to be had here so we try to help out and keep the conversations going," explained Jeff Mesnik, Founder and President of ContentMX, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
SYS-CON Events announced today that Isomorphic Software will exhibit at DevOps Summit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Isomorphic Software provides the SmartClient HTML5/AJAX platform, the most advanced technology for building rich, cutting-edge enterprise web applications for desktop and mobile. SmartClient combines the productivity and performance of traditional desktop software with the simp...
In his session at @DevOpsSummit at 19th Cloud Expo, Yoseph Reuveni, Director of Software Engineering at Jet.com, will discuss Jet.com's journey into containerizing Microsoft-based technologies like C# and F# into Docker. He will talk about lessons learned and challenges faced, the Mono framework tryout and how they deployed everything into Azure cloud. Yoseph Reuveni is a technology leader with unique experience developing and running high throughput (over 1M tps) distributed systems with extre...
"When you think about the data center today, there's constant evolution, The evolution of the data center and the needs of the consumer of technology change, and they change constantly," stated Matt Kalmenson, VP of Sales, Service and Cloud Providers at Veeam Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
"There's a growing demand from users for things to be faster. When you think about all the transactions or interactions users will have with your product and everything that is between those transactions and interactions - what drives us at Catchpoint Systems is the idea to measure that and to analyze it," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York Ci...
As companies gain momentum, the need to maintain high quality products can outstrip their development team’s bandwidth for QA. Building out a large QA team (whether in-house or outsourced) can slow down development and significantly increases costs. This eBook takes QA profiles from 5 companies who successfully scaled up production without building a large QA team and includes: What to consider when choosing CI/CD tools How culture and communication can make or break implementation
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo Silicon Valley Call for Papers is now open.
Extreme Computing is the ability to leverage highly performant infrastructure and software to accelerate Big Data, machine learning, HPC, and Enterprise applications. High IOPS Storage, low-latency networks, in-memory databases, GPUs and other parallel accelerators are being used to achieve faster results and help businesses make better decisions. In his session at 18th Cloud Expo, Michael O'Neill, Strategic Business Development at NVIDIA, focused on some of the unique ways extreme computing is...
I wanted to gather all of my Internet of Things (IOT) blogs into a single blog (that I could later use with my University of San Francisco (USF) Big Data “MBA” course). However as I started to pull these blogs together, I realized that my IOT discussion lacked a vision; it lacked an end point towards which an organization could drive their IOT envisioning, proof of value, app dev, data engineering and data science efforts. And I think that the IOT end point is really quite simple…
"We view the cloud not really as a specific technology but as a way of doing business and that way of doing business is transforming the way software, infrastructure and services are being delivered to business," explained Matthew Rosen, CEO and Director at Fusion, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.