November 22, 2017, Suncor, Fort McKay First Nation (FMFN) and Mikisew Cree First Nation (MCFN) announced the completion of the acquisition by FMFN and MCFN of a 49% partnership in Suncor’s East Tank Farm Development for total proceeds of $503 million.*
This venture was completed without any government funding or involvement. It was strictly a commercial deal between Suncor and the two First Nations.
“Today we’ve completed a historic deal for energy development in Canada. This unique partnership has been part of a journey that demonstrates how innovative thinking and collaborative spirit can result in a mutually-beneficial opportunity and it has changed the way Suncor thinks about how our Aboriginal neighbours may participate in energy development.”
– Mark Little, CEO, Suncor.
Today we announced an agreement for equity partnership with Fort McKay First Nation https://t.co/qTIHXqWxSm
— Suncor Energy Inc. (@suncorenergy) September 6, 2016
News Release: Fort McKay First Nation and Suncor announce agreement for East Tank Farm Development
— Fort McKay (@FortMcKay) September 6, 2016
(link: https://t.co/Cyy3hr1D9g)
Suncor Energy and Fort McKay First Nation to make historic announcement https://t.co/Mx6mT68vGf
— CCAB (@ccab_national) September 6, 2016
Suncor & Fort McKay First Nation have reached an equity partnership in a Tank Farm Development #ymm #rmwb https://t.co/jukp6wMjdy
— KAOS 91.1 (@kaos911radio) September 6, 2016
Suncor sells oil storage stake to Fort McKay First Nation https://t.co/8OZLVJnBAr $SU
— Jeff Lewis (@JeffALewis) September 6, 2016
The Fort McKay First Nation will be part owners in Suncor’s East Tank Farm with new participation agreement https://t.co/NkgBCfek1f #ymm
— MyMcMurray (@MyMcMurray) September 6, 2016
Fort McKay First Nation buys piece of #Suncor's #FortHills tank farm @JWN_Deborah https://t.co/Z6O6lizbXt #oilandgas #MandA
— JWN (@JWNenergy) September 6, 2016
Fort McKay First Nation to put $350M into oilsands tank farm to be owned, operated by Suncor https://t.co/JRZlEcb3GD pic.twitter.com/sb4j4HEgob
— CTV News (@CTVNews) September 6, 2016
Fort McKay First Nation buying $350M stake in Suncor storage project | https://t.co/3GWvlGckSY | #ymm #oilsands pic.twitter.com/6Mai4MOOBV
— Fort McMurray Today (@FortMacToday) September 7, 2016
#SuncorEnergy Suncor sells oil storage stake to Fort McKay First Nation. Read more: https://t.co/rN1uDdQs0q $SU
— Oil & Gas News (@oilgas_refmktg) September 12, 2016