Suncor signs oilsands lease development MOU with Fort McKay First Nation

 By Amanda Stephenson THE CANADIAN PRESS CALGARY- Suncor Energy Inc. has signed an agreement with the Fort McKay First Nation that the oilsands giant says could lead to its first-ever bitumen extraction project on reserve lands. The Calgary-based energy company, together with the Fort McKay First Nation, announced Thursday that they have struck a memorandum of understanding on an oilsands lease development opportunity. Suncor said it is in the process of conducting early-stage technical and commercial feasibility assessments to determine the quality and quantity of mineable bitumen ore in the area, which is located within the Regional Municipality of Wood Buffalo in northern Alberta and on the Fort McKay First Nation’s traditional territory. (Bitumen is a variant of oil common in the oilsands.) “Any resource extraction from this lease would…

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