EX-99.1 2 tm2024309d1_ex99-1.htm EXHIBIT 99.1

 

EXHIBIT 99.1

 

Suncor Energy Inc. Extractive Sector Transparency Measures Act Report for the reporting year January 1, 2019 to December 31, 2019

 

 

 

  

 

STATEMENT UNDER THE ACT RESPECTING TRANSPARENCY MEASURES
IN THE MINING, OIL AND GAS INDUSTRIES (s.1)

 

Fiscal year covered by the statement: from January 1, 2019 to December 31, 2019

 

Name of the entity filing the statement: Suncor Energy Inc.

 

Name(s) of the subsidiary or subsidiaries for which the entity files the statement, where applicable:

 

Petro-Canada Terra Nova Partnership; Petro-Canada Hibernia Partnership; Petro-Canada Hebron Partnership; Canadian Oil Sands Partnership; Suncor Energy Oil Sands Limited Partnership; Suncor Energy Offshore Exploration Partnership; Suncor Energy Ventures Partnership

 

CERTIFICATE

 

I certify that I have examined the information contained in the statement of Suncor Energy Inc. for the fiscal year that began on January 1, 2019 and ended on December 31, 2019. To my knowledge and having exercised due diligence, the information contained in the statement is, in all material respects for the purposes of the Act, true, accurate and complete.

 

Full name of the officer or director: Alister Cowan

 

Title of position: Chief Financial Officer

 

Date: June 26, 2020

 

"Alister Cowan"

 

[Signature]

 

 

 

 

Extractive Sector Transparency Measures Act - Annual Report  
             
Reporting Entity Name Suncor Energy Inc.  
     
Reporting Year From 1/1/2019 To: 12/31/2019 Date submitted 7/3/2020
             
Reporting Entity ESTMA Identification Number E405435   x Original Submission
¨  Amended Report		    
               
Other Subsidiaries Included
(optional field)		              
               
For Consolidated Reports - Subsidiary Reporting Entities Included in Report: Petro-Canada Terra Nova Partnership: E368056,
Petro-Canada Hibernia Partnership: E014222,
Petro-Canada Hebron Partnership: E294659,
Canadian Oil Sands Partnership: E984046,
Suncor Energy Oil Sands Limited Partnership: E761283,
Suncor Energy Offshore Exploration Partnership: E718793,
Suncor Energy Ventures Partnership: E895970		    
               
Not Substituted              
               
Attestation by Reporting Entity              
               
In accordance with the requirements of the ESTMA, and in particular section 9 thereof, I attest I have reviewed the information contained in the ESTMA report for the entity(ies) listed above. Based on my knowledge, and having exercised reasonable diligence, the information in the ESTMA report is true, accurate and complete in all material respects for the purposes of the Act, for the reporting year listed above.  
     
Full Name of Director or Officer of Reporting Entity Alister Cowan        
          Date 6/26/2020  
Position Title Chief Financial Officer        

 

 

 

 

 

Extractive Sector Transparency Measures Act - Annual Report

 

Reporting Year From: 1/1/2019 To: 12/31/2019    
             
Reporting Entity Name Suncor Energy Inc.   Currency of the Report CAD
         
Reporting Entity ESTMA Identification Number E405435      
         
Subsidiary Reporting Entities (if necessary) Petro-Canada Terra Nova Partnership: E368056,
Petro-Canada Hibernia Partnership: E014222,
Petro-Canada Hebron Partnership: E294659,
Canadian Oil Sands Partnership: E984046,
Suncor Energy Oil Sands Limited Partnership: E761283,
Suncor Energy Offshore Exploration Partnership: E718793,
Suncor Energy Ventures Partnership: E895970		      

 

Payments by Payee

 

Country   Payee Name   Departments,
Agency,
etc…
within
Payee
that
Received Payments2		   Taxes     Royalties     Fees     Production
Entitlements		     Bonuses     Dividends     Infrastructure
Improvement
Payments		     Total
Amount
paid to
Payee		     Notes
Canada   Government of Canada         517,020,000       140,150,000       830,000              -              -                -                   -       658,000,000     Includes royalties that are remitted directly to the Canadian federal government that are then sent to the Government of Newfoundland and Labrador for the Terra Nova, White Rose, Hebron and Hibernia Extension projects.
Canada   Canada Newfoundland and Labrador Offshore Petroleum Board         -       -       3,260,000       -       -       -       -       3,260,000      
Canada -Alberta   Athabasca Chipewyan First Nation         -       -       260,000       -       -       -       -       260,000      
Canada -Alberta   City of Calgary         100,000       -       -       -       -       -       -       100,000      
Canada -Alberta   Fort Chipewyan Metis Local 125         -       -       180,000       -       -       -       -       180,000      
Canada -Alberta   Fort McKay First Nation         -       -       1,280,000       -       -       -       -       1,280,000      
Canada -Alberta   Fort McKay Metis Community Association         -       -       470,000       -       -       -       -       470,000      
Canada -Alberta   Fort McMurray #468 First Nation         -       -       310,000       -       -       -       -       310,000      
Canada -Alberta   Fort McMurray Metis Local 1935         -       -       120,000       -       -       -       -       120,000      
Canada -Alberta   Government of Alberta         193,210,000       256,500,000       24,790,000       -       -       -       -       474,500,000      
Canada -Alberta   Heart Lake First Nation         -       -       120,000       -       -       -       -       120,000      
Canada -Alberta   Mikisew Cree First Nation         -       -       510,000       -       -       -       -       510,000      
Canada -Alberta   Municipality of Wood Buffalo (Alberta)         67,500,000       -       490,000       -       -       -       -       67,990,000      
Canada -Alberta   Chipewyan Prairie First Nation         -       -       370,000       -       -       -       -       370,000      
Canada -Alberta   Willow Lake Metis Association         -       -       390,000       -       -       -       -       390,000      
Canada -Newfoundland and Labrador   Government of Newfoundland and Labrador         -       115,770,000       -       -       -       -       -       115,770,000     Includes royalties paid in relation to the Hibernia Base project.
Canada -Quebec   Government of  Quebec         24,550,000       -       40,000       -       -       -       -       24,590,000      

 

 

 

 

 

Extractive Sector Transparency Measures Act - Annual Report

 

Reporting Year From: 1/1/2019 To: 12/31/2019    
             
Reporting Entity Name Suncor Energy Inc.   Currency of the Report CAD
         
Reporting Entity ESTMA Identification Number E405435      
         
Subsidiary Reporting Entities (if necessary) Petro-Canada Terra Nova Partnership: E368056,
Petro-Canada Hibernia Partnership: E014222,
Petro-Canada Hebron Partnership: E294659,
Canadian Oil Sands Partnership: E984046,
Suncor Energy Oil Sands Limited Partnership: E761283,
Suncor Energy Offshore Exploration Partnership: E718793,
Suncor Energy Ventures Partnership: E895970		      

 

Payments by Payee

 

Country   Payee Name   Departments,
Agency,
etc…
within
Payee
that
Received Payments2		   Taxes     Royalties     Fees     Production
Entitlements		     Bonuses     Dividends     Infrastructure
Improvement
Payments		     Total
Amount
paid to
Payee		     Notes
Libya   Government of Libya   National Oil Corporation     83,730,000       304,070,000       -       -       710,000       -       -       388,510,000     Bonuses include social development payments as required by certain Exploration and Production Sharing Agreements in Libya. Taxes & Royalties taken in kind and converted to cash basis using the same methodology (fair market value) as Suncor Energy Inc.'s 2019 consolidated financial statements.
Translated using the financial year average foreign exchange rates: 1 USD : 1.3269 CAD.
Norway   Government of Norway         -       -       160,000       -       -       -       -       160,000     Translated using the financial year average foreign exchange rate: 1 NOK : 0.1509 CAD.
United Kingdom of Great Britain and Northern Ireland   Her Majesty’s Government   Her Majesty's Revenue and Customs Cumbernauld     349,320,000       -       -       -       -       -       -       349,320,000     Translated using the financial year average foreign exchange rate: 1 GBP : 1.6945 CAD.
                                                                             
Additional Notes:   - All payments are reported in Canadian dollars.
- All amounts have been rounded to the nearest $10,000 CAD.		                        

 

 

 

 

 

Extractive Sector Transparency Measures Act - Annual Report

 

Reporting Year From: 1/1/2019 To: 12/31/2019    
             
Reporting Entity Name Suncor Energy Inc.   Currency of the Report CAD
         
Reporting Entity ESTMA Identification Number E405435      
         
Subsidiary Reporting Entities (if necessary) Petro-Canada Terra Nova Partnership: E368056,
Petro-Canada Hibernia Partnership: E014222,
Petro-Canada Hebron Partnership: E294659,
Canadian Oil Sands Partnership: E984046,
Suncor Energy Oil Sands Limited Partnership: E761283,
Suncor Energy Offshore Exploration Partnership: E718793,
Suncor Energy Ventures Partnership: E895970		      

 

Payments by Project

 

Country   Project Name   Taxes     Royalties     Fees     Production
Entitlements		     Bonuses     Dividends     Infrastructure
Improvement
Payments		     Total
Amount
paid by
Project		     Notes
Canada -Alberta   Base Mine     26,680,000       129,790,000       8,850,000              -              -           -               -       165,320,000      
Canada -Alberta   Firebag     36,640,000       81,390,000       4,920,000       -       -       -       -       122,950,000      
Canada -Alberta   MacKay River     4,120,000       45,320,000       4,120,000       -       -       -       -       53,560,000      
Canada -Newfoundland and Labrador   Hebron     -       7,080,000       -       -       -       -       -       7,080,000      
Canada -Newfoundland and Labrador   Hibernia     -       183,030,000       -       -       -       -       -       183,030,000     Hibernia Base and Extension projects have been combined for the purposes of this report.
Canada -Newfoundland and Labrador   Terra Nova     -       57,200,000       3,430,000       -       -       -       -       60,630,000      
Canada -Newfoundland and Labrador   White Rose     -       8,610,000       -       -       -       -       -       8,610,000      
Norway   Norway     -       -       160,000       -       -       -       -       160,000     Translated using the financial year average foreign exchange rate: 1 NOK : 0.1509 CAD.
Libya   Libya     83,730,000       304,070,000       -       -       710,000       -       -       388,510,000     Bonuses include social development payments as required by certain Exploration and Production Sharing Agreements in Libya. Taxes & Royalties taken in kind and converted to cash basis using the same methodology (fair market value) as Suncor Energy Inc.'s 2019 consolidated financial statements.
Translated using the financial year average foreign exchange rates: 1 USD : 1.3269 CAD.
United Kingdom of Great Britain and Northern Ireland   U.K. Oil & Gas Taxes     349,320,000       -       -       -       -       -       -       349,320,000     Translated using the financial year average foreign exchange rate: 1 GBP : 1.6945 CAD.
Canada   Other     50,000       -       8,970,000       -       -       -       -       9,020,000     Includes Emerging properties in the Oil Sands business unit (Meadow Creek, Lewis, Frontier, and Chard) and North America Onshore in the Exploration and Production business unit.
                                                                         
Additional Notes:   - All payments are reported in Canadian dollars.
- All amounts have been rounded to the nearest $10,000 CAD.