Suncor, Industry Success
Developing long-term, meaningful solutions
Suncor has worked positively with Mikisew to simplify our existing agreements and share opportunities:
- In 2015, Suncor approached Mikisew about updating the multiple agreements on a project-by-project basis.
- Those agreements had been signed at different times, which had created conflicting processes and project management needs for both Suncor and Mikisew.
- A decision to amalgamate the agreements was made, and the parties ended up with a long-term, multiple-project consultation agreement.
- At the same time, Suncor presented an opportunity to Mikisew to purchase equity in a Suncor project in lieu of traditional impact benefit agreement funding. It became known as the East Tank Farm project, of which Mikisew owns 14% through the Thebacha partnership.
- The Thebacha partnership and consultation agreement go hand in hand, providing the basis for a meaningful relationship with Canada’s largest integrated energy company.