Fort McKay First Nation And Suncor Energy To Partner On Prospective Oil Sands Development Opportunity On Reserve Lands

Fort McKay First Nation (FMFN) and Suncor today announced the signing of a Memorandum of Understanding (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. Building on decades of collaboration, the announcement marks a significant milestone for FMFN, a leader in working with industry to create opportunities for its people while safeguarding the environment, and in Suncor’s Journey of Reconciliation.

"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 on 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.”

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,” says 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.”

Chief Powder adds, “Our people of Fort McKay First Nation have diligently worked hard for years as a collaborative and reliable partner. This has resulted in building the Nation for opportunities while securing future growth in our community. This is the true meaning of reconciliation. It puts in our hands the tools we need to bring prosperity and a sustainable future for our people.”

Fort McKay First Nation and Suncor are committed to facilitating economic self-determination for Indigenous communities based on mutual trust and respect. Both parties share a goal of maximizing mutual prosperity while minimizing environmental impacts, including supporting Suncor’s commitment to achieving net-zero emissions from its operations by 2050, as a member of the Pathways Alliance.

About Fort McKay First Nation
Fort McKay First Nation has more than 900 band members of Dene and Cree heritage residing on the reserve and abroad. The community is located 50 kilometres north of Fort McMurray along the shores of the Athabasca River. In addition to the Fort McKay community, FMFN has Reserves 174A at Gardiner (Moose) Lake and 174B at Namur (Buffalo) Lake, approximately 65 kilometres northwest of Fort McKay. Moose Lake is the traditional home of what is now the Fort McKay First Nation people. A signatory to Treaty 8, Fort McKay First Nation’s mission is to assert Treaty rights, revitalize culture and language, promote education, build economic capacity, and support wellness to create opportunities for our Nation’s healthy and sustainable future. The Nation also manages a business portfolio of 18 entities. Business revenues are invested in infrastructure, programs, services, and directly benefit both the community of Fort McKay and individual band members. Only five per cent of FMFN’s annual operating budget comes from federal or provincial governments. For more information, visit www.fortmckay.com.

About Suncor
Suncor is Canada’s leading integrated energy company. Suncor’s operations include oil sands development, production and upgrading; offshore oil production; petroleum refining in Canada and the U.S.; and the company’s Petro-Canada retail and wholesale distribution networks (including Canada’s Electric Highway, a coast-tocoast network of fast-charging electric vehicle stations). Suncor is developing petroleum resources while advancing the transition to a low-emissions future through investments in power and renewable fuels. Suncor also conducts energy trading activities focused primarily on the marketing and trading of crude oil, natural gas, byproducts, refined products and power.