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Press releases from Ondeo, 02/05/2003
Ondeo Nalco Company gains key contract with
Suncor Energy Inc., Canada
Ondeo Nalco Company, a subsidiary of SUEZ Environment Industrial Services (NYSE: SZE), has been awarded a new oil and water treatment services contract for Suncor Energy Inc., a world leader in crude oil extraction from the vast oil sands deposits in northeastern Alberta, Canada. The contract duration is 8 years and represents an initial US$ 10 million in revenues over the lifetime of the contract, with a potential to grow as Suncor develops plans to expand oil production.
Ondeo Nalco will develop oil and water treatment programs and provide chemical and on-site expertise for Suncor’s Firebag In-Situ Oil Sands Project, a Steam Assisted Gravity Drainage (SAGD) oil extraction project. Suncor Firebag In-Situ Oil Sands Project is expected to supply an additional 140,000 barrels of bitumen per day by the end of the decade to the company’s existing upgrader, north of Fort McMurray, Alberta. The Ondeo Nalco solutions will help reduce Suncor’s total cost of operations while enhancing environmental benefits.
“Suncor selected Ondeo Nalco based on its oil, water and refining expertise, together with its global research and development capabilities,” said Derek Baker, vice president, Firebag, Suncor. “We have developed a 22-year relationship with Ondeo Nalco in Fort McMurray, and we look forward to further enhancing the benefit this strategic partnership will have on our operations.”
Christian Maurin, Chairman and CEO, Ondeo Nalco said: “Oil production is a highly competitive business and oil sands producers in Canada must use innovative production methods to access and deliver oil to market in a cost-effective way. We are bringing Suncor world-class innovative solutions and on-site expertise to help the company meet the challenges oil sands production present and contribute to achieving outstanding performances.”
Suncor’s oil sands operation current production capacity is 225,000 barrels of oil per day, with plans to increase total production to 550,000 barrels per day over the next decade.
Ondeo Nalco Company, a subsidiary of SUEZ Environment Industrial Services division, is the worldwide leader in water treatment and process chemicals with 10,000 employees working with more than 60,000 customers in 130 countries and annual revenues of $2.7 billion.
SUEZ is an international services group serving industrial, individual, and municipal customers. SUEZ is a world-class player in each of its businesses: energy and environment. It generated 2001 revenues of EUR 42.4 billion, 87% of which originated in Europe and North America.
SUEZ (SZE) is listed on Euronext Paris and Euronext Brussels, as well as on the Luxembourg, Zurich and New York Stock Exchanges. It is the only name from its sector represented on every major international index: the CAC 40, Eurostoxx 50, FTSE Eurotop 100 and MSI Europe (Morgan Stanley Index).
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