An Introduction to Canadian Oil Industry
Canadian Oil Industry is among the top ten oil industries in the world in terms of the production of crude oil. According to the Canadian Oil Industry experts only 50 percent of the country's oil availability has so far been possible to exercise and that is why the development in the process of exploration has continued to remain the major focus in the Canadian Oil Industry.
It is a fact that both offshore and onshore, the Canadian Oil Industry faces the most extreme weather with severe cold, icebergs, muskeg, tundra and some other natural obstacles. To overcome these extreme natural condition and also keep the flow of of oil production steady, the Canadian Oil Industry has put a lot of effort in order to develop equipments which would help them to produce oil out of any difficulties. Some of these techniques are:
- Vehicles which are specialized to move in these difficult landscape which would help them carry equipment along the oil that is there.
- They are also looking to improve upon the technologies that are available to work in such extreme climate and inhospitable terrain.
- The Canadian Oil Industry's transportation of rig is also considered as one of the best in the world as these are especially made keeping these conditions in mind and are considered as the most fastest, expertized and safest as well.
According to the statistics available about the Canadian Oil Industry, the investment which has been made is around $31 billion in the year 2004. Out of this amount of investment more than $6.7 billion were invested out side the country and nearly $6 billion were spent for the development of the oil sands. The expenditure for the development and exploration were around $2 billion.
Canadian Oil Industry also has developed world class technologies in the upstream sector ,some of them are:
- SAGD or Steam Assisted Gravity Drainage
- Ocean Geomatics
- Heavy oil and oil sands extraction
- 3 D and 4D seismic.
- Geo steering, logging and software