Feb 11/98 Bright Future For Nova Scotia
Speech by Neal McKim, Senior Operating Officer, Shell Canada Limited
at the official launch of Sable Offshore Energy Incorporated in
Halifax, February 11, 1998.
Mr. Premier, ladies and gentlemen:
I'm very happy to be here today to mark the official launch of our
Sable natural gas development project. Many of you have made a
significant investment in time and effort to bring this project from a
possibility to a reality. Because of your efforts we now stand at the
threshold of a new era of economic growth for Nova Scotia. Indeed, the
positive effects of this investment will ripple across Canada.
The Sable project will form the foundation for a vibrant new industry
in this part of the country. And once the base has been established,
it will serve as a springboard for many new opportunities to follow _
opportunities that we may not be able to see clearly as yet, but that
will emerge as the industry takes hold. Look at other areas of the
world where natural gas and oil have been discovered _ coastal areas
such as Aberdeen and the Gulf of Mexico. These local economies have
grown strong from oil and gas production.
The benefits of the oil and gas industry are many. Obviously it
generates employment and economic prosperity through royalties and
taxes. But as it calls for goods and services, the industry attracts
many other businesses which invest in the local economy. For example,
oil drawn from the North Sea over a quarter a century ago, led to
Aberdeen's development as Europe's 'Oil Capital' - and its status as
one of Europe's more prosperous cities. In Aberdeen alone more than
40,000 people are employed by the oil and gas industry. During my 35
years with Shell Oil, I have witnessed the gulf coastal towns grow
with infrastructure to service the offshore industry. At the same time
cities such as New Orleans and Houston reaped economic benefit as
technical centers. To Nova Scotia this will mean future generations
will not have to leave home for career opportunities.
Another benefit will be the community investment. Experience has shown
that Canadian petroleum companies and their employees take their
corporate responsibility very seriously, contributing positively to
all areas of the communities in which they operate.
Yes, the future looks bright for Nova Scotia. As project construction
proceeds, there will be millions of dollars spent in this area. And,
as we continue to interpret new seismic in the basin we will find
increasing opportunities to use the infrastructure that is being
constructed for Sable. This new development will keep the economy
growing for many years to come.
In the short term, we also have good news. Work to date shows the
reserve potential of Sable natural gas is greater than initial
estimates and we now believe we'll be able to recover more than 3.5
TCF of gas. That's great news because it will enable us to increase
production to help meet growing market demand.
More than three decades have passed since Shell Canada first acquired
permits to explore for oil and gas offshore Nova Scotia. And now we
stand, with our industry partners, ready to move from the exploration
phase where we saw only potential, to development, with tangible
benefits for the citizens of Nova Scotia and for Canada.
We look forward to an exciting and long partnership. Thank you.
from soep.com |
