Two First Nations Acquire Partnership in Suncor’s East Tank Farm Development

On November 22, 2017 Fort McKay First Nation and Mikisew Crew First Nation acquired a 49 per cent sponsorship in Suncor’s East Tank Farm Development, a bitumen and diluent storage, blending and cooling facility located approximately 30 kilometers north of Fort McMurray, Alberta. It is primarily dedicated to servicing bitumen production from the Fort Hills oil sands mining project. Revenue from long-term terminal services agreements with the Fort Hills oil sands partners underpins the financing. Suncor is the operator of the East Tank Farm Development. This deal represents the largest business investment to date by a First Nation entity in Canada.

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