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Canada | Energy entrepreneurs predict business recovery in 2023

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(Calgary) The Canadian Energy Entrepreneurs Association predicts more intense oil and natural gas drilling activity in 2023.

According to the association, 6,409 wells should be drilled next year in Canada, which would represent an increase of about 15% compared to 2022.

It predicts that 42,350 people will be employed, directly and indirectly, by the drilling industry in 2023, a year-over-year increase of more than 5,400 jobs.

The industry group expects activity to be boosted by the construction of the Trans Mountain pipeline expansion and the Coastal Gas Link project, both of which will increase Canadian oil capacity.

The energy transition is also creating some opportunities for drilling companies in sectors such as helium, carbon capture, in situ hydrogen and the extraction of minerals from oil field brines.

According to the association, recruiting and retaining the workforce is still a challenge for the energy industry.



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