Canada is one of the largest energy producer in the world. The first project in Canada's Atlantic coast region came onstream in November 1997. The field, known as Hibernia, is located 197 miles east-southeast of St. John's, Newfoundland. A second project, Terra Nova, began production in January 2002 and White Rose in 2005. The next major development project on the east coast of Canada is Hebron. Detailed engineering contracts are awarded, first oil is expected 2017.
Statoil has a significant presence in the Canadian offshore sector through Hibernia, Terra Nova, Hebron and several exploration leases. Many of the INTSOK partners are well established. Numerous extension projects related to existing fields are sanctioned and in progress. For details, see links below to market reports.
The Canada page provides information from INTSOK's Canada advisor, an overview of planned activities, links to key actors in and presentations from INTSOK events.
About Canada
• Population: 34 million
• Canada has been self-governing since 1867 but retaining ties to the British Crown
• The third largest oil reserves in the world
• The third largest gas producer in the world
• The country aims to develop its energy resources with high focus on the environment
• Canada is the most significant source for U.S. energy imports
Oil
Oil production comes principally from three sources: the oil sands of Alberta, the Western Canada Sedimentary Basin, and the offshore oil fields in the Atlantic. Additional reserves are known to be under the Beaufort Sea in the Arctic.
The traditional areas of offshore oil production are found off the eastern shore of Newfoundland. Oil production is concentrated in three oil fields: Hibernia, Terra Nova, and White Rose fields with the Hebron field under development.
Oil sands consist of mineral called bitumen, unconventional petroleum which is naturally found blended with sand, clay, and water. Once extracted, bitumen is a heavy, viscous type of crude oil. The bitumen must be "upgraded" through a complex process which yields light, sweet "synthetic" crude. Environmentalists are critical towards the development of the oil sands.
Canada has a privatized oil sector. International participation has risen rapidly mainly through non-controlling stakes in projects. Canadian oil firms have been through extensive restructuring. Suncor became Canada’s largest oil and gas firm after acquiring Petro-Canada.
The industry has high focus on specific areas, such as shale gas in British Columbia or shale oil in Saskatchewan and Manitoba.
Canada's crude pipeline system is concentrated in the western provinces and largely oriented toward exports to the U.S. market.
Oil overview 2010
• Proven oil reserves: 175 billion barrels with oil sands included
• Oil production: 3,3 million barrels per day
• Oil consumption: 2.2 million barrels per day
Major oil producers
• Suncor
• Encana
• Talisman
• Chevron
• Husky
• ExxonMobil
• Shell
Natural Gas
Despite its relatively small amount of reserves of natural gas, Canada is third in dry natural gas production, as well as the third largest net exporter of natural gas globally. Vast deposits of unconventional natural gas in the form of coal bed methane (CBM), tight gas and gas found in formations of shale. Development of these resources is not as advanced as in the United States. The resources represent a major source of growth potential in natural gas production.
Several international oil companies, like PetroChina, Sinopec, Petronas and Kogas in South Korea have signed agreements with local firms in the shale areas. Several companies have launched plans for LNG exports from British Colombia towards the Asian markets. Plans for import terminals for LNG have been cancelled.
The gas industry
• Proven natural gas reserves: 1,7 trillion cubic meters
• Natural gas production: 159 billion cubic meters
• Natural gas consumption: 94 billion cubic meters
Main Markets
Other Priority Markets
Welcome to the Canadian Oil and Gas Market
