Judy Maksoud
International Editor
Offshore
Canada is a critical component of North American energy and security. Bruce Bowie, director general of the Energy & Marine Branch Industry Canada, told participants at a topical luncheon at the Offshore Technology Conference in Houston May 2, "Canada plays a key role in US energy security."
Bowie focused his presentation on doing business in Atlantic Canada, noting that the business environment is inviting. He pointed to several Atlantic Energy Roundtable milestones that will streamline bureaucratic requirements and simplify the process of going from concept to exploration. The end result will be increased exploration as a result of reduced approval times for offshore drilling projects.
The Roundtable's goal, according to Bowie, is to, "establish the right environment" for doing business in Atlantic Canada. The keys are collaboration and cooperation, Bowie said.
Bowie talked about the Roundtable in terms of research and development, noting the Atlantic Energy Roundtable is very generous in R&D incentive programs.
Bowie classified Atlantic Canada is a "world class frontier with great untapped potential." The royalty regime, business environment, and access to the US market are all selling points for doing business.
Bowie encouraged investors to look closely at the benefits of working off of Canada's east coast. "There's lots of room for more investment in the Atlantic offshore," he said.
05/02/05
