Page 92 - AIF - English

ADVISORY – FORWARD-LOOKING INFORMATION

installed in 2014 and first oil for the South White Rose • Suncor’s plans to continue to pursue other

Extension is expected in late 2014 or early 2015;
opportunities in the North Sea, the Norwegian Sea and
the Barents Sea;
• Plans for Hebron that include a concrete GBS,
integrated topsides deck, 1,200 mbbls of oil storage • Suncor’s plans to continue to pursue opportunities in
capacity, 52 well slots and a gross oil production offshore Newfoundland and Labrador;

capacity of 150 mbbls/d (net 34 mbbls/d to Suncor);
• The compliance costs to Suncor in relation to SGER for

• Suncor’s share of the post-sanction project costs for the 2014 are expected to be between $20 million and
Hebron project will be approximately $2.8 billion and $25 million;

first oil is expected in 2017;
• Significant development activities and costs anticipated

• That three oil and gas development wells drilled at to occur or be incurred in 2014;
Buzzard in 2013 will mitigate natural declines from • Anticipated abandonment and reclamation costs;

the reservoir;
• Anticipated royalty and income tax rates and the
• Development plans for Golden Eagle, which include an
impact of these rates on Suncor;
initial gross production capacity of 70 mboe/d
• Anticipated effects of environmental and climate
(19 mboe/d net to Suncor) from 21 development wells,
change legislation;
gross development costs of £2 billion (Cdn$3.5 billion),
(£0.6 billion (Cdn$1.0 billion) net to Suncor), and the • Suncor’s plans around its reserves and resources;

company’s expectations that first production will occur • Suncor’s expectations that it will continue to engage
late in 2014 or early 2015;
the appropriate governmental bodies in meaningful

• Plans for the continued evaluation of and further dialogue in an effort to develop a harmonized system
for GHG emissions regulations that focuses on
appraisal drilling in 2014 for the Beta discovery;
• Plans to commence drilling on an exploration well at achieving actual reduction goals and sustainable
resource development;
the Myrhauk prospect late in 2014 and the Blackjack
prospect during the first quarter of 2014;
• Suncor’s belief that it will have sufficient funds
available to fund its planned expenditures for 2014;
• That Suncor’s estimated cost remaining on its Libya
• Suncor’s belief that existing cash balances, internally
exploration work program committed at December 31,
2013 was US$349 million;
generated cash flows and existing credit facilities are
sufficient to fund future development costs and that
• Suncor’s expectation that rail transport to Montreal will
increase to approximately 35 mbbls/d by the end of interest or other funding costs would not make
development of any property uneconomical; and
2014;
• Suncor’s belief that it will be able to successfully
• The company expects to commission a second rail defend its original filing position in relation to certain
offloading facility in Tracy, Que´bec which is expected to
derivative contracts so that ultimately no increased
enable access to eastern tide-waters for Oil Sands income tax payable will result from CRA’s position.
product and could commence as early as the second
Forward-looking statements and information are not
quarter of 2014; and
• The company’s expectation that construction of the guarantees of future performance and involve a number of
risks and uncertainties, some that are similar to other oil
Adelaide wind project will commence in the second
quarter of 2014, that the Cedar Point project will and gas companies and some that are unique to Suncor.
Suncor’s actual results may differ materially from those
continue to progress through the regulatory process in
2014, and that the two projects will add 140 MW of expressed or implied by its forward-looking statements, so
readers are cautioned not to place undue reliance on them.
gross installed capacity, increasing the gross installed
capacity of Suncor’s wind projects by 55%.
The financial and operating performance of the company’s
reportable operating segments, specifically Oil Sands,
Also:
Exploration and Production, and Refining and Marketing,
• The plan by Syncrude owners to develop mining areas may be affected by a number of factors:
adjacent to the current mine that would extend the life
Factors that affect our Oil Sands segment include, but are
for Mildred Lake by approximately ten years, and that
Syncrude expects to make regulatory applications for not limited to, volatility in the prices for crude oil and other
production, and the related impacts of fluctuating
these areas in 2014;
light/heavy and sweet/sour crude oil differentials; changes
• The co-owners of Syncrude do not expect that the in the demand for refinery feedstock and diesel fuel,
Aurora South mining area will come on-stream before
including the possibility that refiners that process our
2024, when production from the Mildred Lake mining proprietary production will be closed, experience
area is expected to be complete;

90 SUNCOR ENERGY INC. ANNUAL INFORMATION FORM 2014