SASKATOON – Saskatchewan may have the most attractive policies in Canada for oil and gas investment, according to the Fraser Institute’s 7th annual Global Petroleum Survey.
For the first time, a new section was added to the survey which examined how 157 jurisdictions compare on policy-based factors when their proved oil and gas reserves are considered.
The 2013 survey uses the opinions of petroleum executives and managers from 762 companies around the world to rank jurisdictions for their relative attractiveness for investment.
Not accounting for the level of proven reserves, Saskatchewan ranked first nationally and third worldwide. The province was 13th out of 147 jurisdictions worldwide in 2012.
Manitoba was ranked second in Canada this year, followed by Alberta.
When proven oil and gas reserves or petroleum resource potential are included, Alberta is first among provinces and number three in the world. Jurisdictions in this tier have at least 0.1 per cent of proven reserves.
Political uncertainty around two proposed oil pipelines from Alberta to the west coast was a negative factor for Alberta.
Over 60 per cent of those surveyed indicated their assessment of Western Canada and the Northwest Territories for investment would deteriorate if pipeline bottlenecks continue.
“North American jurisdictions overall benefit from providing a secure environment in terms of the physical safety of personnel and assets, having a fair and transparent legal system, and for the quality of geological databases,” said Alana Wilson, the institute’s senior economist in natural resource studies.
Founded in 1974, Fraser Institute is an independent Canadian research and educational organization with locations throughout North America.
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