Otc05 Tl Bowie
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Canada’s East Coast Offshore Opportunities Canada Canada ’ ’ s East Coast Offshore Opportunities s East Coast Offshore Opportunities Bruce Bowie, Director General Energy and Marine Branch Industry Canada May 2, 2005 Bruce Bowie, Director General Energy and Marine Branch Industry Canada May 2, 2005
description
Oil & gas exploration opportunities offshore Canada
Transcript of Otc05 Tl Bowie
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
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Canadian and U.S. Crude Oil Pipelines
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Proximity to Major Markets
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Mapping the East Coast
332 Wells
First production 1992
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Mapping the East Coast
332 Wells
4 000 WellsFirst production 1971
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Mapping the East Coast
46,000 Wells
332 Wells
First production 1979
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Atlantic Canada Developments
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May 2, 2005
Atlantic Canada Developments
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May 2, 2005
Atlantic Canada Developments
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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
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Making Exploration More Attractive
MODU duty suspension
Shared database of regulatory decisions
Seismic statement of practices recently released for consultation
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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
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Robust Research and Development Programs
Over a dozen R&D organizations working on offshore technologies
Atlantic Energy Roundtable focusing on R&D needs
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AER Research and Development Committee
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May 2, 2005
AER Research and Development Committee
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Technology Improving – Experience Increasing
Managing the Offshore Environment
Technologies & Systems developed
Capabilities of Local Companies
Operating Costs on Par with Other Offshore Regions
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More to Come
More exploration friendly
More accessible information on geology
Streamlined regulatory process
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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
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