Oil Exploration

Canada's unique geography, geology and natural resources have made this country a major player in the petroleum industry. The development of this industry has played a key role in the history of Canada and her settlement patterns. Eastern Canada and in particular Alberta has been considered the mail oil producing area of Canada but the Canadian Arctic and offshore in the past few years are being explored and developed.

The history of the petroleum and natural gas industry in Canada started in the 1950's and it was then that a vast pipeline system to deliver the products to both domestic and foreign markets. Huge natural gas-producing facilities boosted Canada to become second only to Russia in production and distribution.

Today although billions have been invested in bitumen and its exploration (such as the Alberta Oil Sands project), Canada's vast resources are still only partially exploited. Statistics estimate that by the year 2025 projects like this and other unconventional oil resources for heavy crude could push Canada into the top ranks of the international oil exporting nations.

As an example of new exploration Shell Canada Resources Ltd., is leading a group of investors and beginning a new oil exploration program off the coast of Nova Scotia that will see upwards of $440 million (United States) invested. When this program begins, which they forecast to start around Nov. 4, they expect it to last a minimum of three years and be one of the four biggest offshore exploration programs approved for Nova Scotia.

Nine new wells will be located in the most promising offshore site in Canada which is the area around Sable Island. There have already been successful test wells sunk off Sable and jack up rigs are a common sight entering and departing Halifax Harbor which is the closest port to Sable for repairs and resupply. Halifax is a major city and the capital of Nova Scotia.

Shell Canada, (79 percent owned by the Royal Dutch/ Shell Group), retains a 25 percent interest in this new exploration program and will also be the main operator. Other major players will be Petro-Canada Exploration Inc with a 45 percent share, Shell Explorer Ltd., holding a 25 percent interest and Sulpetro Ltd. has 5 percent.

Leave a Comment

vidmate download said:

Check this guide to download latest version vidmate app for android phones and tablets

Roughneck Definition

Roughneck Definition Abrams Industries

Based in Atlanta, Georgia, Abrams Industries is involved in several markets ranging from construction, real estate, and energy management. Concerning their construction division, Abrams Industries focuses on new construction projects for retail, distribution, expansion projects, and other commercial ventures. In the company's real estate division, they are involved in commercial...

read entire definition