CALGARY, Jan. 25, 2013 /CNW/ - The In Situ Oil Sands Alliance (IOSA) and
the Canadian Manufacturers and Exporters (CME) announce the completion
of two days (January 23-24) of successful meetings with manufacturers
in southwest Ontario. The meetings focused on establishing new business
deals that will continue to benefit the local and regional economy of
Ontario while providing Alberta-based companies with reliable and
durable made-in-Canada products.
"Economic benefits generated from the oil sands extend well beyond
Alberta, and are much more than the revenue generated from the oil we
produce," said Glen Schmidt, President and CEO of Laricina Energy Ltd.,
an IOSA member company. "Across Canada, thousands of jobs in the
manufacturing sector are created and sustained by the oil sands.
Inter-provincial trade missions allow us to meet with Canadian
manufacturers, and to purchase Canadian products, benefiting Canadian
workers and communities. In Ontario alone, oil sands development is
expected to contribute more than $63 billion dollars in revenue to the
provincial economy over the next 25 years."
"This is the second time IOSA companies have toured southwest Ontario to
meet potential suppliers. For this trip, the scope of the visit was
expanded thanks to the active participation of MPs Pat Davidson, Dave
Van Kesteren, Joe Preston and Bev Shipley, along with support from the
southwest Ontario Caucus and Minister Diane Finley, Minister of Human
Resources and Skills Development Canada and regional Minister for
southwest Ontario," said Mr. Schmidt.
"CME met with IOSA representatives in Ottawa and discussed opportunities
around expanding supply chains required for Alberta energy projects to
include potential suppliers from across Canada," said Ron Subramanian,
Director of Energy Connections for CME. "This is a tremendous exercise
in 'nation building' which can have a positive impact on economic
growth and job creation in several provinces. Southwest Ontario is a
great example of untapped manufacturing capacity for the oil sands. As
Canada's largest trade and industry association, it is our mission to
help our manufacturers and exporters compete and win in domestic and
global markets, and working with groups like IOSA and community
partners is imperative."
Officials from regional development agencies, chambers of commerce and
municipal governments in St. Thomas, Chatham-Kent, Sarnia, Lambton
County, St. Clair and Strathroy collaborated to hold sessions where
over 120 local businesses participated.
"The success of this trip was the result of the hard work of dozens of
people representing federal, regional and local offices as well as
associations and companies," said Pat Davidson, Member of Parliament
for Sarnia-Lambton. "This trip is an example of how the private and
public sector can work together to ensure that all Canadians continue
to benefit from the economic potential of the oil sands."
IOSA is a group of five independent oil companies dedicated to the
development of Canada's oil sands using in situ technologies to extract bitumen. IOSA member companies include:
Athabasca Oil Corp., Connacher Oil and Gas, Laricina Energy Ltd., MEG
Energy, and Osum Oil Sands Corp. The IOSA members have more than 25
billion barrels of recoverable crude oil between them. Today more than
50 percent of the oil sands are developed through in situ processes. Approximately 80 percent of Alberta's oil sands reserves are
too deep to be recovered by surface mines and can only be recovered
through in situ technologies, a process with a considerably smaller environmental
SOURCE: In Situ Oil Sands Alliance (IOSA)
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