March Luncheon Building a new business Unit Teck Energy and the Forth Hills Project

  • Dates:
    Mar 20, 2014
  • Hours:
    From 11:30 AM to 1:00 PM
  • Location:
    Renaissance Harbourside Hotel 1133 West Hastings Street, Vancouver, BC
  • Event Type:
    Luncheon Meeting

Contact Information

Grant Carlson
Vice-chair, Vancouver Branch
1 604 367 7659
gcarlson@srk.com
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Event Detail

Keynote Speaker: Ray Reipas, Senior VP of Energy, Teck Resources Ltd.

Title: Building a New Business Unit – Teck Energy and the Fort Hills Project

Abstract: Teck has been building its newest business unit “Energy” since 2005.  Through a series of acquisitions into early stage projects and successful green field exploration, Teck has built a business unit with interests in three oil sands mining projects with over 3 billion barrels of recoverable resources and a wind power generation facility,  Teck’s Energy business unit took a major step forward in October 2013 when, along with our partners announced that we are proceeding with the construction of the Fort Hills oil sands project.   The Fort Hills oil sands project is located approximately 90 kilometres north of Fort McMurray in northern Alberta.  Teck holds a 20% interest in the Fort Hills Energy Limited Partnership (Fort Hills Partnership), which owns the Fort Hills oil sands project, with 39.2% held by Total E&P Canada Ltd. and the remaining 40.8% held by Suncor Energy Inc. (Suncor). An affiliate of Suncor is the operator of the project.  The project is scheduled to produce first oil as early as the fourth quarter of 2017 and is expected to achieve 90% of its planned production capacity of 180,000 barrels per day (bpd) of bitumen within 12 months. Our share of production is expected to be 36,000 bpd (13 million barrels per year) of bitumen.

Bio: Ray Reipas was appointed Senior Vice President, Energy of Teck in November 2011. He joined Teck Resources Limited in September 2008 as Vice President, Energy. Prior to joining Teck, Mr. Reipas was Vice President of Mining for Total E&P Canada Limited.  He has over 34 years of experience in engineering and managing open pit mines in Western Canada and overseas and has held senior management roles with a number of mining and oil sand operations. 

Mr. Reipas holds a Bachelor of Science in Mining Engineering from Queen’s University in Kingston, Ontario. He has also completed the Queen’s University Executive Program.

He is currently a member of the Association of Professional Engineers, Geologists and Geophysicists of Alberta, as well as the Canadian Institute of Mining and Metallurgy.

About Teck: Teck Resources Limited (Teck) is a diversified resource company committed to responsible mining and mineral development with business units focused on copper, steelmaking coal, zinc and energy.  Headquartered in Vancouver, British Columbia, Canada, we own or have an interest in 13 mines in Canada, the United States, Chile and Peru, as well as one large metallurgical complex in Canada. We have expertise across a wide range of activities related to exploration, development, mining and minerals processing including smelting and refining, safety, environmental protection, materials stewardship, recycling and research.  Our corporate strategy is focused on building a broadly diversified resource company, growing our production at existing operations and developing new long life projects in stable jurisdictions.  The pursuit of sustainability guides our approach to business and we recognize that our success depends on our ability to establish safe workplaces for our people and collaborative relationships with communities.

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