Oil and Gas
Alberta is Canada’s energy province. Energy development is the largest contributor to the province's GDP, capital investments and exports. In 2016, Alberta produced about 80 per cent of Canada’s crude oil. Alberta is home to one of the world’s largest unconventional oil deposits, the oil sands, but the province’s diverse resource portfolio also includes natural gas, conventional oil, and minerals.
Invest in Alberta's cost-competitive and diverse oil and gas industry,
including one of the world's largest unconventional oil deposits
Alberta has the potential to become the world’s leading energy provider. It has a world-class resource next to the largest market in the world. Only 19% of the world’s proven oil reserves are accessible to private sector investment (not state controlled) of which more than half (53%) are in Alberta’s oil sands, which represents considerable investment opportunities in Alberta’s oil sands.
Alberta’s oil and gas industry is cost-competitive – the break-even costs of its resource plays are one of the lowest in North America.
The oil and gas technology and services industry provides a large value-added component to Alberta’s economy and is instrumental in the development of Alberta’s unconventional oil and gas reservoirs. Capital investment in oil sands, heavy oil and unconventional gas projects will provide a continuous source of demand for businesses in this sector.
Products and services
Oil and gas technology and services is focused on upstream-related oil and gas equipment and services. Upstream-related products and services include seismic and geological services, drilling and completions, and advanced production techniques. This important industry sector focuses on such areas as:
- multilateral drilling technologies,
- non-invasive drilling fluids,
- swell packer stimulation technologies,
- coiled tubing expertise and benefits,
- innovative pumping technologies,
- non-traditional well configurations, and
- geosteering of horizontal wells in real time.
Oil and Gas Equipment
Alberta has the world’s third largest proven crude oil reserves after Saudi Arabia and Venezuela. Canada is the world’s third largest supplier of natural gas, with Alberta accounting for 67% of Canadian production. The Alberta Government is committed to improving extraction technologies for conventional oil production; i.e. advanced seismic and horizontal drilling.
Alberta is well set-up for oil and gas activities, with pre-zoned industrial lands, ready access to water, and a skilled workforce ready to work.
The province has a large network of oil and gas pipelines as well as multi-commodity oil and gas distribution centres that connect Alberta’s oil and gas to ports.
Alberta’s oil and gas industry has a long history of innovating and finding solutions to technical problems and are partners in keeping costs low.
Unprecedented demands and resource constraints on the energy sector have resulted in companies seeking out new and innovative processes, demonstrated through an increased focus on research and technology. In regards to the heavy oil and oil sands industry, opportunities exist to reduce the use of water and natural gas and to decrease overall environmental impacts.
On a similar front, Alberta’s natural gas industry is exploring ways to improve well economics by reducing the cost of explorations and increasing well productivity through technology and process improvements. As a whole, technology development and adoption, and process improvements are key components to increasing the competitiveness of Alberta’s oil and gas industry.