In our article, Canadian Environmental Regulations for Oil & Gas we saw how Canada is a global leader in stringency, transparency and compliance of regulations in the oil and gas sector. While international regulations change as a method to protect people and the environment, it requires a bit of adapting from companies who are on the forefront of new technology, but Canada stays on top.
The Canadian Oil Sands Innovation Alliance was created to balance innovative technology and the regulations, and “CEO, Dan Wicklum, says, ‘COSIA is driven to find and develop technologies and solutions that solve our biggest oil sands environmental challenges.’”
“Mark Salkeld, CEO of Petroleum Services Association of Canada agrees: ‘Canadian Oilfield services are at the leading edge of world-class environmental technology because they have to be. Their customers, the producers in Canada, expect nothing less in order to support the environmental aspect of their corporate social responsibility commitments. Canadian environmental and clean technology in the oil and gas sector is sought out by countries around the world.’”
An example of this is in 1985, Brian Mulroney’s conservative government focused on Acid Rain in Eastern Canada and capping emissions. Companies expected to go out of business, but adapted and ended up more successful than they were prior.
“But it was Western Canada that blazed the technological trail, providing many of the solutions it developed to address sour gas that used to kill up to five people per year in Alberta’s oil and gas industry. The industry helped develop H2S worldwide material standards for Houston-based, National Association of Corrosion Engineers, which develops global corrosion prevention and control standards.”
Georox Resources is engaged in the exploration, development and production of oil and natural gas in Western Canada. The Corporation is growth oriented and has been prudent in its acquisitions. The strategic objective is to grow shareholder value based on current assets while remaining focused on continued expansion, exploration and production opportunities. The strategic focus provides for stable growing production with current assets in Canada.
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