Thus, the obtained results are the estimated economic benefits stemming from the offshore industry’s continued activity offshore Atlantic Canada over the outlook period (2010-2035) including: 3. In the context of this report the terms short, medium, and long term are defined as five, ten, and over ten year periods in the outlook, correspondingly. [...] This report begins with an overview of the petroleum industry in Eastern and Atlantic Canada (Chapter 1), followed by an explanation of the methodology developed by the Canadian Energy Research Institute (CERI) to establish an outlook for production as well as a discussion of the cash-flow (CF) models developed for the allocation of historical and future capital and operating expenditures (investm [...] Ontario Ontario is one of the birthplaces for the Canadian oil and gas industry, Canada’s second natural gas field was discovered in south-western Ontario in 1866, and the area was one of the most important places for natural gas development until the early 1900s.1 Over the last few decades natural gas development has continued in Ontario, yet Ontario’s raw natural gas production of 23 million cub [...] The figure reflects the potential resources available in the province, which include shale gas resources in the lower Saint Lawrence areas, crude oil and natural gas in the Gaspé Peninsula, shale oil in Anticosti Island, as well as a potentially large amount of both natural gas and crude oil resources offshore the Gulf of Saint Lawrence, in what is known as the Old Harry Field.13 Increased interes [...] As it can be observed, the province has seen renewed activity and interest over the last decade which is in part attributable to the development of pipeline and related infrastructure (M&NP and Enbridge Gas New Brunswick) in the late 1990s, which provides producers with access to markets as well as growth prospects for the industry in the region.
Authors
- Pages
- 97
- Published in
- Canada
