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PROVINCE’S OIL AND GAS OPPORTUNITIES PROMOTED IN HOUSTON

Released on January 30, 2007

Opportunities in Saskatchewan’s thriving oil and gas industry are being promoted this week at an international energy show in Houston, Texas.

Labour Minister David Forbes and officials from Industry and Resources and the Petroleum Technology Research Centre will attend the North American Prospect Expo (NAPE) 2007, January 31 to February 2.

Forbes will speak at a special Canada luncheon Wednesday and give an overview of the Saskatchewan oil and gas industry’s strengths and opportunities, research infrastructure and business climate.  He joins energy ministers from four other provinces at the luncheon.

“Global demand for oil is high, and petroleum companies are looking for places around the world in which to invest,” Forbes said.  “Saskatchewan is an energy powerhouse, and now more than ever, our oil and gas industry is providing confident investors with options and opportunities.  This is the message Premier Calvert has delivered to American business audiences in the past and it’s a message that we are reinforcing at this expo.”

Now in its 15th year, NAPE is a large marketplace for oil and gas companies to introduce oil and gas plays to a broad cross-section of geologists, engineers, chief executive officers, energy financiers and other industry operators.  More than 13,000 delegates attended last year’s expo.

The oil and gas industry is the largest contributor to the province’s Gross Domestic Product.  Saskatchewan currently produces about 425,000 barrels of oil per day and 740 million cubic feet of natural gas per day.  The combined annual value of oil and gas sales for 2006 was approximately $9.3 billion.  Saskatchewan’s oil and gas industry employs approximately 27,000 people (directly and indirectly).

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For more information, contact:

Bob Ellis
Industry and Resources
Regina
Phone: 306-787-1691
Email: rellis@ir.gov.sk.ca 

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