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Where To Invest Today?

But outside of southwestern Ontario, the only region with easily produced, accessible oil and gas resources in the industry’s early years was the Western Canada Sedimentary Basin. It was clear that western Canada had potential, and Amoco actually performed a seismic test in Saskatchewan immediately after the war. Thus, at the end of World War II Calgary had the corporate, production and regulatory expertise a petroleum centre needs. These include recent SPE publications, Formation, Removal, and Inhibition of Inorganic Scale in the Oilfield Environment (with Murtaza Ziauddin) and Organic Deposits in Oil and Gas Production (with Murtaza Ziauddin and Ramachandran Venkatesan). Among the mineral resources found in the rocks of the ocean bed, the most important ones and currently utilized resources are the deposits of coal and oil. Huge in aereal extent, that basin’s oil and gas resources are heavily concentrated in central and northern Alberta. Commercial hydrocarbons exist in every Canadian province (except Prince Edward Island) and in the northern territories.

I well remember when I was a lad growing up in Bangor Northern Ireland over fifty years ago. In 1912, the rapidly growing city of Calgary became the terminus for Canada’s first major pipeline, a 274-kilometre gas line from southeast Alberta. The company was also Canada’s 15th largest exporter, and the largest exporter of energy. Because much of Turner Valley’s gas cap had been produced, the energy that could have helped produce oil from the field had been greatly diminished. 1.014 billion. While specifics on AI were not reported, according to its Investor’s Handbook, R by 1955 the west’s productive capacity far outstripped the oil demand of all Canadian refineries.

The company was also one of Canada’s top marketers of oil and natural gas. The company was the largest cold producer of heavy oil, the second largest in situ producer of heavy oil and one of the 10 largest producers of conventional oil. By revenue, in 1997 Amoco Canada was the 23rd largest Canadian company and the second largest oil and gas company. The company experienced spectacular exploration and development successes during the 1950s and 1960s. As a result, within 15 years of arrival Amoco Canada represented 5 per cent of the corporation’s world-wide assets. Amoco’s oil and gas investment contributed to growth in many areas: manufacturing, the petroleum service sector, oilfield technology and infrastructure, petrochemical development. Amoco’s top rankings in Canada reflect many years of steady growth and innovation. What was the source of that growth? “That means the onus is on these fields to produce enough profit to shift the substantial debts, fund future projects and hopefully reinstate a dividend,” Umar said.