Suncor, Fort McKay First Nation sign MOU on prospective oil sands development

Fort McKay First Nation, or FMFN, and Suncor announced the signing of a Memorandum of Understanding, or MOU, on a prospective oil sands lease development opportunity on Fort McKay reserve lands in the Regional Municipality of Wood Buffalo and respectively Fort McKay First Nation Traditional Territory. Under the MOU, Suncor is progressing early stage technical and commercial feasibility assessments to determine the quality and quantity of economically recoverable mineable ore on Lease 174C, which is FMFN Reserve Land. “We are honoured to be working with Fort McKay First Nation. Through this partnership, Fort McKay First Nation has the opportunity to govern oil sands activity on their land and fully participate and benefit from responsible resource development. This potential opportunity, which has synergies with Suncor’s existing operations, could provide Suncor with bitumen supply optionality post 2040,” says Peter Zebedee, Suncor’s Executive Vice President – Oil Sands.