As anyone who knows me can attest, sales is in my blood. And one of the products I’m most excited to pitch is the rich potential of Atlantic Canada’s energy sector. Since this issue of Natural Resources Magazine is being distributed at several major international petroleum shows—OTC 2018 (Houston, Texas); Gas & Oil Expo 2018 (Calgary, Alberta); and, Atlantic Canada Petroleum Show (St. John’s, Newfoundland and Labrador)—I thought it would be appropriate to introduce our region to the world. Here is a brief overview of why I believe Atlantic Canada deserves the attention and dollars of energy investors from around the world.
• According to the Fraser Institute, offshore Newfoundland and Labrador is one of the most attractive frontier regions in the world with 20+ basins and over 650 leads and prospects defined by seismic work.
• Nova Scotia has released a detailed open-access Onshore Petroleum Atlas; the first comprehensive review of the province’s hydrocarbon potential.
• There are four active petroleum developments offshore Newfoundland and Labrador (Hibernia, Terra Nova, White Rose and Hebron), with a fifth (West White Rose) in the construction phase. Together, they represent more than 20 years of knowledge development and billions of barrels of successful production.
• BP is starting a deep water drilling program offshore Nova Scotia this spring, and efforts to expand offshore geoscience are ongoing.
• There’s a bureaucratically-savvy, industry-friendly former government minister at the helm of the Newfoundland and Labrador Offshore Industries Association. I predict Charlene Johnson will usher in an unprecedented level of cooperation between the provincial government and offshore developers.
• Nova Scotia is on course to be a global tidal energy leader. In January this year, the provincial government issued a call for companies to test their renewable energy systems in the Bay of Fundy and the Bras d’Or Lakes.
This is literally just the barest tip of the iceberg… there is so much more I could talk about—like Bull Arm, and the Orphan Basin, and the Flemish Pass, and… If you’d like to know more about any of this, or would appreciate an introduction to some of the key local players, please give me a call: 1-709-726-9300.