Outward bound: Unprecedented opportunity lures all Canadian energy sectors to international oil scene

The global dimensions of Canadian energy enterprises were reviewed. It has been found that as the Western Canadian Sedimentary Basin is getting more mature, the opportunities in Canada are declining, hence the worldwide involvements of Canadian oil and service and supply companies in exploration, drilling, production and servicing in many parts of the world. Canadian Occidental Petroleum in Yemen, Canadian Fracmaster in Russia, Destiny Resource Services in South America, Gabon, Yemen and Papua New Guinea, Pacalta Resources Limited in Ecuador, Talisman Energy in Indonesia, TransCanada Pipelines, Ocelot Energy Inc and Nova Corporation building pipelines in South America and in Zambia, and Atco everywhere, are just some of the examples cited. So far, Canadian push abroad is short of a rush as only 10 per cent of spending and production by Canadian oil and gas companies is overseas, compared to 50 per cent for Americans. The ratio is about the same for Canadian service and supply companies. Canada has the advantage of being almost the only industrial society without an unpleasant imperial past. That, combined with the 'nice guy' image of the maple leaf will inevitably lead to even greater Canadian share of the international oil and gas business. The decline in the traditional role of U. S. companies in global oil markets after 1985 (according to a recent API report) and the tremendous opportunities created by the opening of the former Soviet Union to foreign capital will also contribute to enhancing the international role played by Canadian oil, gas, and service and supply companies