Canadian Oil
Canada is endowed with extensive resources and is a large producer of oil and Natural Gas. Canada exports a significant amount of oil to different areas in North America and is a major supplier of natural gas. Canadian oil and Natural Gas reserves are helpful to society because they are available, provide jobs and will be useful for many years to come. Canada is the third largest producer of natural gas in the world following that is oil that is found in many areas of Canada.
Talking about oil and natural gas, many of people in society use it everyday as a part of their lives. To get oil and natural gas first major companies must be formed. Some of Canada’s crude oil company’s are Shell-Canada, Petro-Canada, Exxon’s Imperial Oil, Suncor and many more. These companies produce oil starting from 135,000 barrels-per-day (bbl/d) to about 600,000 bbl/d. Most of the company’s named above produce natural gas as well. Canada has about 64 trillion-cubic-feet (Tcf) of proven natural gas, which ranks 15th in the world. Canada currently produces’ about 6.5Tcf of natural gas per year.
The demands for oil and natural gas increasing as the years go on. Over the period 1980-1995 total primary demand for oil increased 29%. Unlike oil the demand for natural gas had increased by 77%, averaging an annual rate of 3.9%. Numerous people use oil to make different products such as fertilizers, clothes, car parts, almost all types of plastics and countless other things. Natural gas is used in many homes now days to heat houses with natural gas heaters or furnaces, natural gas fireplaces are used because they’re less expensive and gas drills are great cooking devices. These are some of the things natural gas is used for in a home.
Canadian oil and Natural Gas are located in different places all over the country. Alberta, Canada’s largest producing province makes about 74% of total oil and natural gas production. The majority of conventional production in Canada comes from the Western Sedimentary Basin. This includes Alberta, British Columbia, Saskatchewan, Manitoba and part of Ontario. The Hibernia project offshore Newfoundland also produces a huge amount of oil and natural gas.
With all of this oil and natural gas in Canada it must certainly create many jobs and careers for people. There are the employees that work at the oil and natural gas reserves that are in different fields such as oil and gas extraction. Chemical engineering technologists, gas pipeline operators, oil and gas well drillers, petroleum engineers are some of the various occupations that you might find in oil and natural gas reserves. Employees are that only things required to drill oil and natural gas reserves. You also need the right type of equipment to drill. Most of the equipment required is very expensive. They are usually in the six-digit range and depend on what type of equipment it is.
Now all this oil and natural gas not only creates occupations but also helps homes, businesses and companies around the country. Sue to the rising rate of oil and natural gas cities like Calgary, and towns such as Bonnyville in Edmonton are getting a little more developed. Numerous companies are being formed such as Maxwell Oil & Gas Ltd, Encal Energy Ltd, Canadian Hunter Exploration Ltd, and Del Roca Inc.
The future of Canadian oil seems promising. Various parts of Canada still haven’t been checked for oil and natural gas. Only about 11,000 wells have been drilled up in Northern Canada compared to Alberta’s 160,000 wells alone. Some of the offshore areas are also beginning to form as well. There seems to be continual development in eastern Canada onshore and in the Gulf of St. Lawrence offshore. Canada’s National Energy Board expects further oil production increases of about 500,000bbl/d over the next 5- 10 years. Canadian consumption of natural gas is projected to grow 53% by 2020. As much as 574Tcf of potential natural gas reserves are thought to lie off the coast of Newfoundland and Nova Scotia. As you can see Canadian oil and Natural Gas will be useful for many years to come.
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