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 footprint.
SOURCE: In Situ Oil Sands Alliance (IOSA)
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