CALGARY, Alta. — There could be a boom in oilfield activity in Northern Canada in coming years, according to a group of oil and gas executives who say the North is where it’s at.
A recent survey of oil and gas industry chief executives, indicates they will soon be shifting their focus for exploration away from Canada’s East Coast, to the widely untapped Canadian Northland.
A total of 36 per cent indicated Northern Canada offers the best opportunity for oil discoveries, while 64 per cent felt northern Canada was the best place to explore for natural gas deposits. Northern B.C. was the location most executives feel will yield the highest deposits of natural gas in coming years.
One major stumbling block preventing the companies from accessing Northern areas is the lack of suitable roads and infrastructure. About half of the companies surveyed say they are prepared to boost their exploration budgets to tap Northern resources, while the other half are planning on cutting back exploration costs.
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