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FOR IMMEDIATE RELEASE
Monday, November 26, 2007
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Irving Oil submission takes Project Eider Rock to next phase
Company outlines Draft Terms of Reference as part of Environmental Assessment
 
SAINT JOHN, NB – As part of the environmental assessment process for the proposed Eider Rock project, Irving Oil has submitted its Draft Terms of Reference (ToR) to the provincial government and released them to the federal government and the public for review. The submission is an essential step in the permitting process.
 
The Draft Terms of Reference responds to the provincial Environmental Impact Assessment (EIA) guidelines and the federal Environmental Assessment Track Report, both of which were released to the public and Irving Oil this year. The guidelines and the track report outline the project scope, which will be required to be assessed under the federal and provincial environmental assessment processes. The guidelines and track report also define the requirements for public involvement in the environmental assessment.
 
The Draft Terms of Reference submitted today describe the proposed approach and methods for completing the environmental impact assessment for the project and meeting the requirements for both the federal and provincial processes. Work plans are provided to outline how the requirements of the final guidelines and final track report will be met.
 
“As expected, the environmental permitting process for this project will be rigorous, and we are committed to completing a comprehensive and thorough assessment and designing a new refinery using proven environmental technology to minimize potential environmental effects,” says Kevin Scott, Director of Refining Growth for Irving Oil.  “Today’s submission is another positive step forward in our efforts to build a second refinery. It’s still early in the project, and although our team is working hard, a second refinery is not a certainty, and a lot still needs to happen before we can make a final decision to go ahead.”
 
In addition to formal public consultation, Irving Oil is committed to sharing information with the public and consulting the community on the proposed project. The company will hold its second Open House for members of the public on Friday, December 7th, from
10-8pm at the NBCC Campus on Grandview Avenue. The purpose of the Open House is to share information on the environmental assessment methods and approach outlined in the Draft Terms of Reference and answer questions from the public.
 
Members of the public seeking more information on the project, or wishing to view the Draft Terms of Reference on-line can visit www.irvingoil.com or access the company’s toll-free information line at 1-888-525-1777.   
 
The proposed new refinery, with a capacity of up to 300,000 barrels per day, would be located near the existing Irving Canaport deepwater crude receiving terminal in the Red Head area of Saint John, N.B.  The new facility is intended to respond to the need for additional refining capacity in the Northeast, contribute to New Brunswick’s goal of economic self-sufficiency, and support Saint John’s True Growth strategy. It would add to the competitive position of the New Brunswick energy hub by complementing existing energy infrastructure and create more opportunities for new projects and companies to invest in the region. Together with the existing Saint John Refinery, this new investment would create a combined total of up to 600,000 barrels per day of refining production capacity.
 
The project would cost approximately $5-$7 billion to build. It would create approximately 5,000 construction jobs and 1,000 permanent jobs, as well as generate significant additional employment and business opportunities during construction and operation, including billions of dollars in spin-off activity and the creation of thousands of additional permanent jobs.  
 
About Irving Oil
Founded in 1924, Irving Oil is a privately owned regional refining and marketing company with a history of long-term partnerships and relationships. Irving Oil operates Canada's largest refinery, in Saint John, N.B., which is located 65 miles north of the U.S border and has reached production rates in excess of 300,000 barrels per day. The refinery exports over 80 per cent of its production to the U.S., and accounts for 75 per cent of Canada's gasoline exports to the U.S. and 19 per cent of all US gasoline imports. In 2003, Irving Oil became the first oil company to receive a U.S. Environmental Protection Agency Clean Air Excellence Award, for its clean gasoline. Approximately 7,000 people currently work with the company.
 
For more information about Irving Oil, please visit www.irvingoil.com
                       
 
Media Contact:
 
Jennifer Parker             
Irving Oil                      
(506) 202-2992  
jennifer.parker@irvingoil.com
   
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