REGINA – Last year was a record year for oil production in Saskatchewan.
The government says oil production in 2012 reached 172.9 million barrels, breaking the previous record of 161 million barrels set in 2008.
That works out to an average of 473,600 barrels per day.
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The combined value of oil and gas sales in 2012 is estimated at $12.5 billion
“Saskatchewan’s oil industry had an exceptional year,” said Tim McMillan, the minister responsible for energy and resources.
“This record year in oil production proves that we have the resources and business climate the industry is looking for.”
Oil and gas is one of the largest contributors to the province’s GDP at almost 20 per cent, with more than 34,000 jobs created directly and indirectly in the industry.
It is estimated there are 1.2 billion barrels of remaining crude oil reserves in Saskatchewan.
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