UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 16, 2015

 

 

IMPERIAL OIL LIMITED

(Exact name of registrant as specified in its charter)

 

 

 

Canada   0-12014   98-0017682

(State or other jurisdiction

of incorporation)

  

(Commission

File Number)

  

(IRS Employer

Identification No.)

 

237 Fourth Avenue S.W., Calgary, Alberta   T2P 3M9
(Address of principal executive offices)   (Zip Code)

Registrant’s telephone number, including area code: (800) 567-3776

(Former name or former address, if changed since last report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

Item 8.01 Other Events.

On June 16, 2015, the Company announced the successful start-up of the Kearl oil sands expansion project. A copy of the Company’s news release is attached as Exhibit 99.1 to this report.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

The following exhibit is furnished as part of this report on Form 8-K:

 

  99.1 News release of the Company on June 16, 2015 announcing the successful start-up of the Kearl oil sands expansion project.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

IMPERIAL OIL LIMITED

 

Date: June 16, 2015
By:

/s/ Lara Pella

Name: Lara Pella
Title: Assistant General Counsel and Corporate Secretary
By:

/s/ Cathryn Walker

Name: Cathryn Walker
Title: Assistant Corporate Secretary


LOGO

 

Exhibit 99.1

Production from Kearl expansion project begins ahead of schedule

 

  •   All three froth trains operational; doubles overall Kearl production capacity
  •   Project captured efficiencies, lessons learned from initial development
  •   Incorporates technologies to significantly enhance environmental performance

Calgary, June 16, 2015 — Imperial today announced the successful startup of the Kearl oil sands expansion project, with all three froth trains operational. Production from the expansion project is expected to ultimately reach 110,000 barrels per day, bringing total production from Kearl to 220,000 barrels per day*.

“Startup of the Kearl expansion project was achieved with a disciplined focus on safety, project management and operational excellence,” said Rich Kruger, Imperial chairman and CEO. “Completed ahead of schedule, the project benefited significantly from Imperial’s ‘design-one/build multiple’ approach, ExxonMobil’s expertise in project planning and execution, strong relationships with Alberta-based contractors, and lessons learned from the Kearl initial development.”

“The overall Kearl development represents the next generation of oil-sands mining,” said Kruger. “Using Imperial’s proprietary paraffinic froth treatment process, we eliminated the need for an onsite upgrader, significantly reducing greenhouse-gas emissions. Specifically, on a well-to-wheels basis, Kearl diluted bitumen has about the same greenhouse-gas emissions footprint as the average crude refined today in the United States. Energy consumption has also been reduced by installing electrical cogeneration technology.”

Other environmental innovations include on-site water storage to eliminate withdrawals from the Athabasca River in low-flow periods, progressive land and tailings reclamation, and a state-of-the-art waterfowl deterrent system.

Construction of the Kearl expansion involved 33 million work hours and employed a peak workforce of more than 5,000 people. The project team and construction workforce achieved industry-leading safety performance. Of the project’s approximately $9 billion investment, 90 percent was spent with Canadian companies based in Alberta. Nearly $500 million was directed to local suppliers and contractors in the Wood Buffalo region, of which about 25 percent are Aboriginal-owned and operated.

The Kearl initial development commenced production in April 2013. Kearl bitumen production has been processed in more than 25 refineries throughout North America and elsewhere in the world. Located about 75 kilometres northeast of Fort McMurray, Alberta, Kearl is expected to recover approximately 4.6 billion barrels of bitumen over an estimated project life of more than 40 years.

- 30 -

*156,000 barrels Imperial’s share

FOR MORE INFORMATION, CONTACT:

Meredith Milne – 587-476-4743

Pius Rolheiser – 587-476-7010

 

Investor Relations

Public and Government Affairs

 

 

After more than a century, Imperial continues to be an industry leader in applying technology and innovation to responsibly develop Canada’s energy resources. As Canada’s largest petroleum refiner, a major producer of crude oil and natural gas, a key petrochemical producer and a leading fuels marketer from coast to coast, our company remains committed to high standards across all areas of our business.

 

 

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