Fort McKay First Nation and Suncor Energy are partnering to explore potential oil sands projects on the First Nation.
On March 7th, the energy giant and the First Nation inked a memorandum of understanding (MOU) to collaborate on a potential oil sands project located within the reserve lands of the Fort McKay First Nation.
The potential project is Lease 174C in the Regional Municipality of Wood Buffalo which is located within the First Nation’s territory. Under the MOU, Suncor is progressing through early-stage technical and commercial feasibility assessments to determine the quality and quantity of economically recoverable mineable ore.
“With this agreement, we are creating the conditions for sustainable prosperity, growth, and health for our Nation for generations to come, while leading the way in protecting our land and water,” says Chief Raymond Powder of Fort McKay First Nation.
“We will bring our values of stewardship and care to this opportunity. In doing so, we are charting a new path for economic development on our lands.”
Both parties share a goal of maximizing mutual prosperity while minimizing environmental impacts, including supporting Suncor’s commitment to achieving net-zero emissions by 2050 as a member of the Pathways Alliance.
“We are honoured to be working with Fort McKay First Nation,” said Peter Zebedee, Suncor’s Executive Vice President – Oil Sands.
“This potential opportunity, which has synergies with Suncor’s existing operations, could provide Suncor with bitumen supply optionality post-2040.”