Oil sands companies in Alberta are looking to Ontario companies to build the machinery and equipment needed for the mega-project’s development – as much as $65 billion in goods and services over the next 25 years.
In a forum held on June 26 at Ivey and moderated by Guy Holburn, Director of the Ivey Energy Policy and Management Centre, local companies and federal, provincial and city officials connected with members of the In Situ Oil Sands Alliance (IOSA), a group of independent Canadian oil sands drilling companies to discuss the opportunities for Ontario companies in the oil sands.
More than 200 businesses currently provide goods and a service to IOSA companies, but there is opportunity for more, said spokesperson Patricia Nelson.
“Today is about opening a dialogue and strengthening and expanding relationships between oil sands developers and Ontario industry. Truly a win-win scenario,” said Nelson.
A vast opportunity
“It’s valuable to bring together different stakeholders to discuss business and policy issues and how growth in Alberta can benefit other parts of Canada like Ontario,” said Holburn. “Ontario has resources that companies in Alberta need because they are at capacity.”
Holburn said there’s a learning process that Ontario companies need to go through to better understand what is needed in the oil sands. And the Centre plays a vital role in facilitating learning opportunities like this.
“This kind of effort requires support from all levels of government to identify challenges and help develop and strengthen ties between the provinces. One of the objectives of the Energy Centre is to bring together all stakeholders to discuss policy issues in this sector.”
John W. Mercer, MBA ’86, who works in the energy sector, helped organize the event, along with Ivey.
For more coverage on the forum, please see London Free Press article .