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<html> <head> <meta name="Generator" content="Corel WordPerfect 8"> <title>CANADIAN OIL AND GAS FIRMS TO FORGE LINKS IN NORTH AFRICA</title> </head> <body text="#000000" link="#0000ff" vlink="#551a8b" alink="#ff0000" bgcolor="#c0c0c0"> February 7, 2001 (2:50 p.m. EST) No. 19 CANADIAN OIL AND GAS FIRMS TO FORGE LINKS IN NORTH AFRICA International Trade Minister Pierre Pettigrew today announced that 19 Canadian firms have embarked on an oil and gas trade mission to Tunisia, Algeria and Libya. The expertise and innovation of the Canadian oil and gas sector is on display in North Africa until February 15. These firms represent a broad cross section of products and services offered by the Canadian oil and gas sector, including exploration, engineering consulting services, training, testing and monitoring equipment, chemicals used in production, construction and leading-edge technologies. "On my trade mission to the Maghreb in the fall of 2000, it was clear that Canadian technology and training was in demand in the region," said Minister Pettigrew. "Oil and gas is a vitally important sector, and its full export potential has yet to be tapped." The mission, which will also be the first major Canadian trade mission to include Libya, was organized by the Department of Foreign Affairs and International Trade and Industry Canada. This initiative will build relationships between Canadian firms and interested partners and government bodies in Algeria, Libya, as well as Tunisia, where Canadian firms will participate in a major regional trade fair, the Oil and Gas North Africa show. Canada is the 10th-largest oil producer and the 3rd-largest producer of natural gas. In 1999, the value of Canadian exports in the oil and gas sector was $3.4 billion. Exports in this sector have grown by almost 15 percent between 1993 and 1999. The sector employs 55 000 people, mostly in Alberta. North Africa represents a key oil and gas producing and exporting region with proven reserves of billions of barrels of petrol and gas and a burgeoning demand in land and offshore exploration and production. Opportunities for Canadian companies abound as Canadian products, technologies and expertise are highly regarded. - 30 - A backgrounder is attached. For further information, media representatives may contact: Sylvie Bussières Office of the Minister for International Trade (613) 992-7332 Media Relations Office Department of Foreign Affairs and International Trade (613) 995-1874 Backgrounder Canada • Canada is the 10th largest oil producer and the third largest producer of natural gas. • Canada produces about 2.7 million barrels of oil a day, 30 percent of which is exported. • Canada produces about 2.2 billion cubic metres of natural gas a day, 50 percent of which is exported. • In 1999, the value of Canadian exports in the oil and gas sector was $3.4 billion. • Exports in this sector have grown by almost 15 percent between 1993 and 1998, and are expected to grow by 12 to 13 percent over the next five years. • The sector employs 55 000 people, mostly in Alberta. • Most of Canada's oil production, almost two million barrels per day, is regarded as classic production (i.e., traditional oil wells). • Almost half-a-million barrels per day are produced from tar sands and another 135 000 from offshore wells. • By 2020, tar sands are expected to produce about 50 percent of Canada's oil (compared to the 20 percent they produce now). Canada is a world leader in extracting oil from tar sands and in specialized techniques, such as vapour injection and horizontal drilling. • Hibernia, Canada's best-known offshore well, is expected to produce 180 000 barrels per day and has estimated reserves of 1 billion barrels. • Canada has a refining capacity of almost 1.9 million barrels of oil per day. Tunisia • Tunisia's oil reserves are estimated at 394 million barrels and approximately 100 billion cubic metres of gas. • Annual crude oil production is estimated at 29 million barrels (or 80 000 barrels per day), while natural gas production is approximately 1.8 billion cubic metres. • Approximately 800 oil wells are in operation, and 12 new oil wells have been put into operation since 1999. • Tunisia invests close to $76 million annually in the oil and gas industry. Exploration is encouraged and new legislation simplifying procedures for the issue of prospecting and production permits has been enacted. Algeria • The oil and gas industry is one of the key pillars of the Algerian economy, representing 25 percent of gross national product (GNP) and 95 percent of exports. • Known reserves officially total nine billion barrels of crude oil (one percent of world reserves) and five billion tonnes of natural gas (fifth in the world). • Daily production capacity is 778 000 barrels of oil and 220 million cubic metres of natural gas. Daily refining capacity is 503 000 barrels. • Algeria exports two-thirds of its oil production and 75 percent of its gas production, mainly to Europe. • Canadian imports of Algerian oil and gas products reached $650 million in 1999 and have exceeded the $1 billion mark in the first 10 months of 2000. • The state oil and gas company, SONATRACH, ranks as the 12th largest producer in the world and employs close to 120 000 people. It has entered into joint ventures with several foreign partners and is involved in expanding its international activities. Libya • The oil and gas industry figures significantly in the Libyan economy, representing 30 to 40 percent of GNP and 95 percent of exports. • Libya's crude oil reserves, some 29.5 billion barrels, are the largest in Africa. Natural gas reserves are estimated at 1500 billion cubic metres. Seventy-five percent of Libya's territory remains unexplored and could yield significant oil and gas wealth. • Daily production is 1.37 million barrels of oil and 20 million cubic metres of natural gas. Refining capacity is approximately 348 000 barrels per day. • Libya exports over 80 percent of its oil production, but merely five percent of its gas production, mainly to Europe. • Sanctions against Libya imposed by the United Nations in 1992 were suspended in April 1999. • Libyan authorities have indicated their hope that direct foreign investment in the Libyan oil and gas industry reach US$10 billion over the next 10 years. • Canada does not currently import any Libyan oil or gas. However, some 1000 Canadian expatriates work in Libya, mostly in the oil and gas industry. List of Participants Adams Pearson Associates, Calgary, Alberta Alberta Treating Chemicals Limited, Calgary, Alberta BJ Pipelines and Process Services (BJPPS), Calgary, Alberta Canada Tech Corporation, Calgary, Alberta Canadian Petroleum Institute, Edmonton, Alberta Capex Canada Inc., North York, Ontario CPS Canadian Petroleum Services Inc., Toronto, Ontario Géomat International Inc., Montreal, Quebec Hycal Energy Research Labs, Calgary, Alberta KOS International, Drayton Valley, Alberta The Lumen Group, Toronto, Ontario MTC Canada Inc., Montreal, Quebec Nexen Petroleum International Inc., Calgary, Alberta Quality Polly Pig Ltd., Edmonton, Alberta SNC-Lavalin Inc., Montreal, Quebec Solid Resources Ltd., Nisku, Alberta Stream-Flo Industries, Calgary, Alberta TESCO Corporation, Calgary, Alberta TOP-CO Industries Ltd., Edmonton, Alberta </body> </html>

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