$2 trillion dollar investments over the next 25 years

An Expert's View about Oil And Gas Field Machinery in Canada

Posted on: 29 Nov 2012

Overview:
Canadian Association of Petroleum Producers (CAPP) recently reported that the global energy spotlight on Canadian oil sands is creating greater energy security, environmental responsibility, employment and economic growth. Only 21% of the world’s oil reserves are open to the private sector and 56% of those are in Canada. Expected spending in Canada’s oil sands projects and infrastructure is estimated at $55 billion in 2012 and over $2 Trillion in the next 25 years. American companies are taking advantage of this opportunity and as of early 2011 there were 649 US Suppliers in the Canadian Oil Sands.

Best Prospects
• The industry is capital intensive and characterized by long-term investments, lengthy production cycles and highly specialized technology. Fabricated metal products, machinery, and equipment manufacturing are in high demand.
• Maintenance, repair, and operations (MRO) contracts cost millions of dollars annually and include ongoing maintenance of equipment such as boilers, tanks and pumps, and services for repairs as well as scheduled turnarounds.
• The growing importance of pre-qualification processes and the use of category management are two major trends significant to oil sands suppliers.
• Federal and provincial governments are investing over $3 billion towards CO² capturing technology.

Read the full market research report


Posted: 29 November 2012

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