November 6, 2006

Agreement among petroleum sector groups will enhance research, technology development

Research and technology development in Canada's petroleum sector has been given a significant boost with the recent signing of a Memorandum of Understanding (MOU) between Petroleum Technology Alliance Canada (PTAC) and industry partners representing most of Canada's oil and gas activity. The MOU outlines an agreement between PTAC and the Canadian Association of Petroleum Producers (CAPP) and the Small Explorers and Producers Association of Canada (SEPAC) under which these two groups will share support of PTAC's core funding with the non-profit organization's members. In addition to providing greater long-term financial stability for PTAC, the agreement is expected to:

*better define industry research and technology development needs;

*make communication with government more effective regarding research and technology development needs and opportunities;

*produce a new mechanism for funding research and technology development projects; and

*improve communication among the associations on research and technology development.

Over the past ten years, PTAC has worked with representatives from all sectors of the oil and gas industry to increase R and D aimed at achieving cost-effective, socially responsible, and environmentally sound development of Canada's petroleum resources. CAPP president Pierre Alvarez pointed out that, "Technology is key to our efforts to become more productive and less environmentally intrusive while continuing to develop oil and gas resources for the benefit of Canadians."

"This Memorandum of Understanding will enhance the pace of research and technology development," said PTAC president Eric Lloyd. "Jointly, we can pinpoint areas where research will be most effective and bring together the financial and intellectual resources to make it happen," he added.

"This co-operative approach to the pursuit of technological solutions is tremendously valuable," SEPAC executive director Gary Leach pointed out. "PTAC's initiatives are especially important for smaller oil and gas companies which may not have the resources to pursue major research programs on their own - but which can make significant contributions to our base of knowledge through participation in collaborative research," he explained.

Since its inception as a not-for-profit association in 1996, PTAC has facilitated the launch of more than 206 research projects with a total value in excess of $127.6 million. These projects have addressed research and technology needs in a wide range of oil and gas sectors including drilling, health and safety, heavy oil, natural gas and crude oil production, oil sands, well completions, geoscience and eco-efficient technologies.

A full list of PTAC-related projects is available on the PTAC Web site, www.ptac.org. More information is also available from PTAC president Eric Lloyd, 403/218-7701, E-mail: elloyd@ptac.org.

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