Saskatchewan announces plan to expand oil industry

Mar 19, 2002 01:00 AM

Amendments to the SaskEnergy Act were proposed by the government of Saskatchewan that would cut red tape and expedite commercial oilfield production in the province. The amendments will allow producers to run their own natural gas lines between their own production facilities, a move that will streamline business operations, according to Saskatchewan's Crown Investment Corporation Minister, Maynard Sonntag.
"We had record drilling in Saskatchewan for the past two years, thanks to higher prices and competitive royalty structures," Sonntag said. "We're doing the right thing to grow the industry, and this change is another step in the right direction by giving producers even more control over their operations."

Other amendments within the act include changes designed to enhance public safety through clarifying responsibilities to both contractors and homeowners for "Dial Before You Dig" procedures. "While most pipeline contacts are more of a matter of inconvenience and cost, there is always thepotential for a public safety issue, particularly with larger, higher-pressure transmission pipelines," Sonntag said.
Saskatchewan produced crude oil has a wide range of quality, varying from light sweet crude to heavy sour crude. Crude oil production in the province during 2000 was a record 24.2 mm cm (152.5 mm barrels); a slight increase from the previous all time high reached in 1997 of 23.4 mm cm (147.5 mm barrels).

Saskatchewan is the second largest oil producer in Canada after Alberta. The province produces approximately 20 % of total Canadian oil production. Cumulative oil production from Saskatchewan to December 31, 2000 was 572 mm cm (3.6 bn barrels). Remaining recoverable reserves at December 31, 2000 were estimated to be approximately 182 mm cm (1.1 bn barrels).
Most of Saskatchewan's non-associated natural gas is produced from relatively shallow reservoirs ranging in depth from 275-760 metres (900-2,500 feet). Total gas production in Saskatchewan of 8.2 bn cm (290 bn cf) in 2000 represented a drop of approximately 4 % from 1995 levels. Estimated remaining established recoverable reserves at December 31, 2000 were 70 bn cm (2.5 tcf).

Source: Resource News International
Alexander's Commentary

Change of face - change of phase

In the period of July 20 till August 3, 2015, Alexander will be out of the office and the site will not or only irreg

read more ...
« April 2020 »
1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30

Register to announce Your Event

View All Events