InfraStructures - December 2005/January 2006 - Syncrude, Caterpillar and Finning Recognized For Innovations in Mining Equipment

Syncrude, Caterpillar and Finning Recognized For Innovations in Mining Equipment

Syncrude Canada Ltd., Caterpillar Inc., and Finning (Canada)'s collaborative work to develop technologically advanced mining equipment for the oil sands industry was recognized by the Canadian American Business Council.

The long-term relationship between Syncrude, Caterpillar and Finning and joint efforts by the companies to develop heavy equipment capable of withstanding the rigors of oil sands mining in a safe, environmentally sound and cost effective manner, was recognized with the 2005 Award of Merit by the Canadian American Business Council. Notable examples of this innovative work include significant contributions toward the development of Caterpillar's 400-ton, 797B off-highway truck, the largest mining truck in the world. In addition, numerous projects enhancing and improving Caterpillar products have resulted in significant reductions in operating costs for Syncrude as well as dramatic increases in productivity in the oil sands region.

Jim Carter, President and Chief Operating Officer states: "Syncrude is pleased to receive this award because it highlights our ongoing efforts to build strong business relationships with our suppliers and foster the sustainability and growth of the entire oil sands industry."

Chris Curfman, President of Caterpillar Global Mining said: "Caterpillar is honored to receive this award which recognizes product innovation, lower operating costs, increased productivity, and work-place safety improvements in the oil sands region which have come about as the result of the unique cross- border relationship between Caterpillar, Finning and Syncrude."

Ian Reid, President of Finning (Canada) added: "Finning's Canadian team is proud to be recognized for its innovative partnership with Cat, the world's best heavy equipment manufacturer and the skilled team at Syncrude that has led to the to development of world class mining equipment solutions designed to address the unique needs of the Canadian oil sands."

A panel of international judges conferred the prestigious award based on such standards as job creation, financial strength, environmental responsibility, corporate synergy, exceptional imagination and remarkable innovation. These awards, now in their 11th year, recognize and promote the positive contributions of innovative cross-border business partnerships.

The Syncrude Project is a joint venture operated by Syncrude Canada Ltd. and owned by Canadian Oil Sands Limited, ConocoPhillips Oilsands Partnership II, Imperial Oil Resources, Mocal Energy Limited, Murphy Oil Company Ltd., Nexen Inc., and Petro-Canada Oil and Gas.

Source: Syncrude Canada Ltd