Outlook '98 - International

The increasing participation by Canadian companies in offshore investments in exploration and development were reviewed and prospects for 1998 assessed. At present there are six Alberta-based organizations with offshore projects underway in Bolivia, Colombia, Pakistan and Peru. The projects generally cover periods of five years. Their objective is to assist in improving the regulatory framework of the energy sector in each of these countries. They will also serve as vehicles for Canadian oil and gas players to expand their participation in the development of the energy sectors in those countries. Two other projects, one of them managed by the University of Calgary, is developing a graduate program in energy and environmental management in Ecuador. The other focuses on providing up-to-date environmental regulations and guidelines for a number of South American countries. These projects tend to bring Canada''s world-leading environmental technologies to the fore in countries that otherwise would be more focused on increased production and commercial benefits to the detriment of the environment. There are also a number of spin-off benefits by way of major economic studies, executive training programs utilizing Canadian expertise and joint venture partnerships. All of these tend to lead to the employment of Canadian professionals, sales of goods and services and eventual repatriation of profits. Examples of several such projects have been reviewed to illustrate the present scope and future expansion of Canadian penetration of foreign markets