73% of Canada’s petroleum production, drilling, and investment spending occurs in Alberta.
Central Alberta is located at the heart of the Western Canadian Sedimentary Basin (WCSB) and plays an integral role in Alberta’s energy sector by leveraging our location, space and skilled workforce and serving as headquarters for many drilling and service companies.
Alberta has the third largest petroleum reserves in the world, after Saudi Arabia and Venezuela. The Alberta Energy Regulator forecasts that crude oil production from oil sands will increase 74% to 4.0 million barrels per day by 2024, up from 2.3 million barrels in 2014.
Servicing these immense reserves is no small task; Central Alberta plays an integral role in this industry by leveraging our location, space and skilled workforce and serving as headquarters for many drilling and service companies. With new oil sands construction cycles, demand is only projected to grow.
Oil & gas machinery manufacturing accounts for over $300 million of the region’s manufacturing shipments. As Alberta’s hub for oilfield production services, Central Alberta plays a key role in the future of the oil and gas industry.
With 403,000 km of pipelines, Alberta has one of the world’s most extensive pipeline systems in place. There are many more pipelines currently under construction or proposed that will drastically increase access to international markets.
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