PETROLEUM TECHNOLOGY RESEARCH CENTRE

Released on March 5, 2004

The governments of Canada and Saskatchewan are working together to help advance the province's oil and natural gas industries. Today, Ralph Goodale, Minister of Finance, on behalf of the Government of Canada, and Saskatchewan Agriculture, Food and Revitalization Minister Mark Wartman, on behalf of Saskatchewan Industry and Resources Minister Eric Cline, announced a renewal of funding for the Petroleum Technology Research Centre (PTRC). Each level of government is investing $5 million.

The Regina-based PTRC was founded by Natural Resources Canada (NRCan), Saskatchewan Industry and Resources, the Saskatchewan Research Council and the University of Regina. The non-profit research and development corporation initiates and supports projects aimed at enhancing the production and recovery of Canadian petroleum resources, through applying innovative technologies and engineering solutions.

"The Government of Canada shares the PTRC's belief that creativity and innovative technologies are key to the future," Minister Goodale said. "The Centre is an example of how continuing collaboration between academia and the private sector — along with strong partnerships involving governments, universities and industry — will allow us to achieve our climate change goals."

Minister Wartman said the renewed agreement will help develop the province's sizeable oil reserves, of which only 15 per cent are recoverable using today's technology.

"By supporting the PTRC, we are supporting one of the largest industries contributing to Saskatchewan's economy and strengthening Canada's oil and gas industry overall," Wartman said. "The PTRC is developing enhanced oil-recovery technologies that will increase Saskatchewan's productivity and have a substantial impact on our future competitiveness."

Frank Proto, Chairman of the PTRC, agrees. "The PTRC is positioning Saskatchewan as a leader in the global petroleum industry through the development and demonstration of new and improved technologies," Proto said. "The PTRC is enhancing the sustainable development of Saskatchewan's and Canada's conventional and heavy oil resources, including energy efficiency improvements and greenhouse gas reductions."
Saskatchewan ranks second in Canada for oil production, and third for natural gas. Energy production accounts for approximately 8 per cent of Saskatchewan's gross domestic product and represents almost 12 per cent of provincial revenues.

Of the $10 million in funding announced today, NRCan will provide $4 million, Western Economic Diversification Canada will provide $1 million and Saskatchewan Industry and Resources will provide $5 million.

Federal funding for this project was provided for in the February 2003 federal budget. The Government of Canada's approach to climate change is focused on making the right choices for Canada. This will ensure that the actions taken contribute to the long-term goals of building a sustainable economy for the 21st century, a healthier environment and strong communities, while affirming Canada's place in the world.

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For More Information, Contact:

Bob Ellis Industry and Resources Regina Phone: (306)787-8277	Alexandra Muir Office of the Minister of Natural Resources Canada Ottawa Phone: (613)947-8246
Ghyslain Charron Natural Resources Canada Ottawa Phone: (613)992-4447	Joanne Mysak Western Economic Diversification Canada Saskatoon Phone: (306)975-5942
Pat Breton Finance Canada Ottawa Phone: (613)996-7861