June 13, 2018
The Global Petroleum Show (GPS) attracts roughly 50,000 delegates from more than 115 countries, with representatives from international and domestic companies, government officials and industry leaders.
And for the provincial government, the success of this year’s show reflects an upbeat mood in Alberta’s energy sector.
“Earnings are up, investment is up and drilling is up in Alberta’s rebounding energy sector. We are proud to showcase our support for this sector at the GPS – including a new round of the Petrochemicals Diversification Program, and new support for partial upgrading and feedstock infrastructure,” says Deron Bilous, Minister of Economic Development and Trade. “I’ve been proud to lead missions that showcase Alberta’s incredible talent and investment opportunities to the world and, this week, I am proud to welcome the world to Alberta.”
Alberta has recently seen significant investment in the oil and gas sector including:
• ConocoPhillips buying thousands of acres of land in the Montney shale play in northern Alberta;
• Suncor applying for a new oil sands project;
• Crescent Point Energy and Chevron making large investments in Alberta’s East Duvernay;
• Cenovus and CNRL increasing production; and
• JACOS investing $2 billion in an oil sands expansion project.
This year, Economic Development and Trade officials secured the largest Argentinian delegation ever for the GPS, as well as more than 20 Chinese organizations and companies, and delegates from key international markets, including the United Arab Emirates, Mexico, South Korea, Kenya and South Africa.
GPS is celebrating its 50th year and Alberta has been officially participating since 1978. Over the years, the Alberta government has attracted significant delegations from international markets, including energy ministers, national oil company CEOs, international media, academics and other VIPs.
At this year’s event, Economic Development and Trade Minister Deron Bilous and Energy Minister Margaret McCuaig-Boyd are meeting with Texas Secretary of State Rolando Pablos to sign a long-term collaborative agreement between Alberta and Texas in energy, advanced technologies, and trade and investment.