Saskatchewan is one of the few places in the world that produces all of these types of energy:
- crude oil;
- natural gas;
- geothermal power;
- wind power; and
- hydro power.
In 2021, the combined estimated value of oil and gas production was over $3 billion.
With its world-class research facilities and a strong network of suppliers, opportunities abound in Saskatchewan's oil and gas industry. Thanks to a supportive government and stable, transparent regulatory environment, energy companies find the province one of the best jurisdictions in the world to pilot and commercialize new energy-related technologies.
Saskatchewan is the second-largest oil producer in Canada and the sixth largest onshore producer in Canada and the United States. In 2021, the province produced 162.1 million barrels of oil.
The province has estimated oil reserves of almost 1.2 billion barrels, refining and upgrading capacity, and an extensive network of pipelines. Saskatchewan is home to a significant portion of the Bakken Formation, one of the largest conventional oil plays in North America.
Saskatchewan is the third-largest natural gas producer in Canada. In 2021, the province produced 143.4 billion cubic feet. Estimated recoverable gas reserves are 1.8 trillion cubic feet.
Opportunities exist in shale gas in central and east-central Saskatchewan.
Nuclear Energy and Electricity
Saskatchewan is the world's leading supplier of uranium – 90 per cent is exported, with the remaining 10 per cent fuelling nuclear reactors in Canada. The province's uranium is responsible for powering approximately one in 20 homes in the United States.
Saskatchewan's expertise in clean coal technologies is a good example of how the province is committed to "greening up" its conventional energy resources.
Enhanced Oil Recovery
Saskatchewan is a leader in petroleum research, especially in the areas of enhanced oil recovery (EOR) and horizontal well drilling. Two commercial EOR projects are currently underway in southeast Saskatchewan using carbon dioxide capture and storage (CCS) technologies.
Opportunities for Servicing the Oil and Gas Industry
Information about opportunities to service Saskatchewan's oil and gas industry can be found in the Oil and Gas Supply Chain Requirement Guide. This report provides the insight necessary for a prospective entrant into the oil and gas sector within Saskatchewan. This report does not provide a step-by-step methodology for a potential entrant, but serves as an introduction to the knowledge necessary to consider entering the market.