In spite of the current economic challenges undergoing the province today, Alberta’s oil and gas industries are still strong and are leading sectors of economic growth within the province. Leading the nation in per capital investment and doubling the national average, the province is a prime location for procurement opportunities.
Within Alberta, over $224.3 billion in projects are planned, underway, or have recently been completed (Government of Alberta’s Inventory of Major Projects, April 2017). Of this, the chemical and petrochemical sector accounts for $4.8 billion, $15.1 billion is allotted to the oil and gas sector, and a staggering $97.5 billion in the oil sands sector.
The shift from light crude to heavy oil production creates the potential to maximize the value of hydrocarbon resources through integrated or merchant upgrading and refining. With over 2.9 million barrels of proposed new heavy and bitumen production requiring markets over the next several years, conversion to finished saleable products is a niche opportunity.
Several petrochemical derivative opportunities with excellent investment potential have also been identified within Alberta’s Industrial Heartland.
Additional Procurement Opportunity Resources
Business Information by Industrial Category – Industry Canada
Institute for Chemical Process and Environmental Technology – National Research Council of Canada