Honeywell Process Solutions, a part of
Honeywell International Inc
), was recently selected by Canadian integrated energy firm Suncor
Energy to automate its Fort Hills Oil Sands project in Alberta. The
facility is expected to begin operations in 2017.
As the main automation contractor (MAC), Honeywell will offer
innovative technology to the facility for control and safety
systems management including alarms and advanced simulation
software for critical operations. By leveraging Honeywell's
technological expertise, Suncor Energy will be able to automate its
facility in an efficient manner.
Canadian oil sands have become an important resource to meet the
escalating energy demands of the region. As per the Canadian
association of petroleum producers, production from the Canadian
oil sands is expected to reach five million barrels a day by 2030.
Bringing these resources into large-scale production has been one
of the landmark achievements of Honeywell.
With an expertise in reducing project risks, facilitating on-time
delivery with reliability, Honeywell will help the facility achieve
its future productivity and operational efficiency goals.
Honeywell is a global diversified technology and manufacturing
company with a wide range of products and services. These include
control, sensing and security technologies for buildings, homes and
industry, turbochargers, automotive products, specialty chemicals,
electronic and advanced materials, process technology for refining
and petrochemicals as well as energy efficient products and
solutions for homes, business and transportation.
Honeywell currently has a Zacks Rank #3 (Hold). Other stocks
that look promising and are worth a look now include
Icahn Enterprises, L.P
Noble Group Limited
), each carrying a Zacks Rank #1 (Strong Buy)
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