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Oil & gas exploration opportunities offshore Canada
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Canada’s East Coast Offshore OpportunitiesCanadaCanada’’s East Coast Offshore Opportunitiess East Coast Offshore Opportunities
Bruce Bowie, Director General
Energy and Marine BranchIndustry Canada
May 2, 2005
Bruce Bowie, Director General
Energy and Marine BranchIndustry Canada
May 2, 2005
Canada’s East Coast Offshore Opportunities - Bruce Bowie of Industry Canada presentationPage 2
May 2, 2005
Outline
The East Coast of Canada
Business Environment
Making Exploration More Attractive
Increasing Regional Capabilities
Looking to the Future
Conclusion
Canada’s East Coast Offshore Opportunities - Bruce Bowie of Industry Canada presentationPage 3
May 2, 2005
Canadian and U.S. Crude Oil Pipelines
Canada’s East Coast Offshore Opportunities - Bruce Bowie of Industry Canada presentationPage 4
May 2, 2005
Proximity to Major Markets
Canada’s East Coast Offshore Opportunities - Bruce Bowie of Industry Canada presentationPage 5
May 2, 2005
Mapping the East Coast
332 Wells
First production 1992
Canada’s East Coast Offshore Opportunities - Bruce Bowie of Industry Canada presentationPage 6
May 2, 2005
Mapping the East Coast
332 Wells
4 000 WellsFirst production 1971
Canada’s East Coast Offshore Opportunities - Bruce Bowie of Industry Canada presentationPage 7
May 2, 2005
Mapping the East Coast
46,000 Wells
332 Wells
First production 1979
Canada’s East Coast Offshore Opportunities - Bruce Bowie of Industry Canada presentationPage 8
May 2, 2005
Atlantic Canada Developments
Canada’s East Coast Offshore Opportunities - Bruce Bowie of Industry Canada presentationPage 9
May 2, 2005
Atlantic Canada Developments
Canada’s East Coast Offshore Opportunities - Bruce Bowie of Industry Canada presentationPage 10
May 2, 2005
Atlantic Canada Developments
Canada’s East Coast Offshore Opportunities - Bruce Bowie of Industry Canada presentationPage 11
May 2, 2005
Business Environment
Many Exploration Opportunities
Exploration / Development Rights
Government support and commitment
Atlantic Energy Roundtable (AER) formed in 2002
Includes federal & provincial governments; industry associations; labour; regulators; and petroleum and service and supply companies
Canada’s East Coast Offshore Opportunities - Bruce Bowie of Industry Canada presentationPage 12
May 2, 2005
Making Exploration More Attractive
MODU duty suspension
Shared database of regulatory decisions
Seismic statement of practices recently released for consultation
Canada’s East Coast Offshore Opportunities - Bruce Bowie of Industry Canada presentationPage 13
May 2, 2005
Increasing Regional Capabilities
Increasing Canadian Facilities
Developing the Supplier Industry
Logistics
Transportation
Training
Several large scale construction, fabrication and repair facilities
Better communication on procurement opportunities
Industry Recommended Practices recently released for consultation
Canada’s East Coast Offshore Opportunities - Bruce Bowie of Industry Canada presentationPage 14
May 2, 2005
Robust Research and Development Programs
Over a dozen R&D organizations working on offshore technologies
Atlantic Energy Roundtable focusing on R&D needs
Canada’s East Coast Offshore Opportunities - Bruce Bowie of Industry Canada presentationPage 15
May 2, 2005
AER Research and Development Committee
Canada’s East Coast Offshore Opportunities - Bruce Bowie of Industry Canada presentationPage 16
May 2, 2005
AER Research and Development Committee
Canada’s East Coast Offshore Opportunities - Bruce Bowie of Industry Canada presentationPage 17
May 2, 2005
Technology Improving – Experience Increasing
Managing the Offshore Environment
Technologies & Systems developed
Capabilities of Local Companies
Operating Costs on Par with Other Offshore Regions
Canada’s East Coast Offshore Opportunities - Bruce Bowie of Industry Canada presentationPage 18
May 2, 2005
More to Come
More exploration friendly
More accessible information on geology
Streamlined regulatory process
Canada’s East Coast Offshore Opportunities - Bruce Bowie of Industry Canada presentationPage 19
May 2, 2005
To Summarize…
Attractive Geology
Successful Major Projects
Much More to Explore
Governments & Industry Working Together
Proximity to Major Markets
Stable business environment
Streamlined Regulatory Process
Canada’s East Coast Offshore Opportunities - Bruce Bowie of Industry Canada presentationPage 20
May 2, 2005
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