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Suncor Energy Inc
Symbol SU
Shares Issued 1,298,074,234
Close 2023-11-24 C$ 44.65
Market Cap C$ 57,959,014,548
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Suncor Energy restarts production at Terra Nova

2023-11-27 09:04 ET - News Release

Mr. Rich Kruger reports

SUNCOR ENERGY ANNOUNCES RESTART OF PRODUCTION AT TERRA NOVA

Suncor Energy Inc.'s Terra Nova floating, production, storage and offloading vessel has safely restarted following the completion of the Terra Nova asset life extension project. Production is expected to ramp up over the coming months.

"Focusing on safety and operational integrity, we have brought this key offshore project on-line, providing additional cash flow for our shareholders as well as many benefits to the Newfoundland and Labrador and Canadian economies," said Rich Kruger, Suncor president and chief executive officer. "We appreciate the collaboration and support from the provincial and federal governments regarding this project."

Terra Nova is an oil field located offshore Newfoundland and Labrador approximately 350 kilometres southeast of St. John's. The Terra Nova partners are Suncor -- 48 per cent, Cenovus -- 34 per cent, and Murphy Oil Corp. -- 18 per cent.

About Suncor Energy Inc.

Suncor Energy is Canada's leading integrated energy company. Suncor's operations include oil sands development, production and upgrading; offshore oil and gas; petroleum refining in Canada and the United States; and the company's Petro-Canada retail and wholesale distribution networks (including Canada's Electric Highway, a coast-to-coast network of fast-charging electric vehicle stations). Suncor is developing petroleum resources while advancing the transition to a low-emissions future through investment in power and renewable fuels. Suncor also conducts energy trading activities focused principally on the marketing and trading of crude oil, natural gas, byproducts, refined products and power. Suncor has been recognized for its performance and transparent reporting on the Dow Jones Sustainability North America Index, FTSE4Good Index and CDP. Suncor's common shares (symbol: SU) are listed on the Toronto Stock Exchange and the New York Stock Exchange.

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