Oil & Gas Job Listings
CALGARY, June 29 /CNW/ - Synenco Energy Inc., Managing Partner of the Northern Lights Partnership (NLP), today filed an application with the Alberta Energy and Utilities Board (EUB) and Alberta Environment (AENV) to construct and operate the Northern Lights Mining and Extraction Project at the Northern Lights mine site, approximately 100 kilometres north of Fort McMurray, Alberta.
The application seeks regulatory approvals under the Oil Sands Conservation Act, the Hydro and Electric Energy Act, the Environmental Protection and Enhancement Act and the Water Act, to mine and extract 114,000 barrels per day of bitumen, with the initial phase of production targeted for late 2010.
"The filing represents an innovation in the application process," said Patti McCunn-Miller, Executive Vice President, Corporate Responsibility for Synenco Energy. With the concurrence of the EUB and AENV, portions of the Environmental Impact Assessment (EIA) are to be sequenced and submitted on or before October 31, 2006. The Notice of Application will be advertised following the submission of the sequenced portions of the EIA.
"Synenco is pleased to be working with the regulators in developing this sequenced filing approach. We believe it will allow stakeholders, interested communities, First Nations and other aboriginal peoples an extended consultation period prior to the issuance of the Notice of Application," added McCunn-Miller.
"This is the next important step on the path to bringing the Northern Lights resource to market," said Todd Newton, President and Chief Operating Officer for Synenco Energy. "The Project will help offset Alberta's declining conventional oil production and will contribute significant regional, provincial and national economic benefits."
Northern Lights consists of two development projects: the Mining and Extraction Project north of Fort McMurray and the Upgrader Project being planned for Sturgeon County, north of Edmonton. The bitumen from the Northern Lights Mining and Extraction Project will be shipped by pipeline to the Northern Lights Upgrader. A separate application and EIA for the Northern Lights Upgrader Project are currently being prepared and are expected to be filed with the EUB and AENV before the end of 2006.
Synenco (TSX: SYN - News), a Calgary-based oil sands company, holds a 60%interest in and is the Managing Partner of the NLP. SinoCanada Petroleum Corporation, an indirect wholly-owned subsidiary of Sinopec, owns the remaining 40% of the NLP. The independent best estimate of NLP's resource is 1.49 billion barrels of in-place bitumen. NLP also holds extensive coal lease applications in the Athabasca region in north eastern Alberta. In addition to its interest in NLP, Synenco holds a 100% interest in an oil sands lease adjacent to the NLP lands.
Certain statements contained in this document are "forward looking
statements". The projections, estimates and beliefs contained in such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results or events to differ materially from those anticipated in any forward-looking statements. Synenco believes the expectations reflected in those forward looking statements are reasonable; however, Synenco cannot provide any assurance that these expectations will prove to be correct. See "Risk Factors" in Synenco's Annual information Form available at www.synenco.com for further details of such factors.
For further information
Patti McCunn-Miller, Executive Vice President, Corporate Responsibility, Telephone: (403) 261-1990
Tara Schauerte, Communications, Telephone: (403) 261-1990
Or visit www.synenco.com for more information on the Northern Lights Project and to access Volume 1 (Project Overview) of the Northern Lights Mining and Extraction Project Application
Source: Synenco Energy Inc.
