A recent study conducted by the Alberta Energy Resources Conservation Board and the Alberta Geological Survey found that the province has large oil and gas resources, Reuters reports.
According to the news source, shale formations throughout the province contain more than 3,300 trillion cubic feet of natural gas, 58 billion barrels of gas liquids and 423 billion barrels of oil. Many of these formations were once overlooked as a source of energy, as they are in areas that may be tough to access with current tools and technology, but they provide a valuable options for many manufacturers and refineries considering expansion.
A few regions show the potential to have an immediate impact on the industry, including formations known as The Duvernay, Muskwa, Montney, Nordegg and Alberta Bakken. These areas may be nearly ready for companies, who may start drilling into these deposits while others work on developing technology to access others.
These large collections place mining locations around Alberta on par with several stores in countries like the U.S., a fact that may shift the outlook of the global petroleum industry. The "immense" amount of previously unknown natural resources available in the province could expand current operations in the region while also extending the life of such facilities.
"Data and information on reservoir characteristics and hydrocarbon resource potential of shale formations are rare because of the historical lack of interest in shale-hosted hydrocarbon reservoirs," the official report said, according to Canadian Business. "Now, [the] industry is looking for data and information on shale gas resources to decide if and where these resources may be developed."
Alberta has been Canada's largest producer of oil and gas for some time, though it had not previously looked at the options for tapping into some of these untouched resources. Now that there are figures attached to the predictions of inventory, many companies may begin to develop new projects or plans for using the oil and gas. The expected growth of this industry in Alberta means that there will be a need for more workers in this field, especially as new businesses make their way to the province and set up administrative facilities.
Students interested in taking courses to improve their skills can start by enrolling in the oil and gas administration program at Reeves College. To find out more information, fill out the form on the right.