PETRONAS Canada

PETRONAS Canada (formerly Progress Energy) - As one of the largest natural gas resource owners in Canada, PETRONAS Canada is focused on responsibly producing the cleaner burning fuel for decades to come. It is a company that values its relationship with First Nations and all stakeholders, and is committed to being a valued partner in the communities where it operates. The company is based in Calgary, Alberta, Canada.

PETRONAS Canada
Subsidiary
IndustryOil and gas
Headquarters
Calgary, Alberta
,
Canada
Key people
Mark Fitzgerald (President and CEO)
ParentPETRONAS
Websitewww.petronascanada.com

History

PETRONAS Canada has transformed from a junior exploration company in 2001 to being the largest resource owner in Canada today. The company formally changed its name from Progress Energy Canada Ltd. to PETRONAS Energy Canada Ltd. in November 2018.[1]

Operations

With a dominant land position in the resource-rich area of northeast British Columbia, PETRONAS Canada is one of the largest natural gas resource owners in Canada. Together with its joint venture partners, the company owns approximately 900,000 gross acres of mineral rights with more than 60 trillion cubic feet of reserves and contingent resources in the North Montney.

As the operator of two joint ventures in the North Montney, the company is focused on developing the resource safely and responsibly.

The North Montney Joint Venture was created with Japan Petroleum Exploration Co. Ltd. (JAPEX), Brunei National Petroleum Company Sendirian Berhad (PetroleumBRUNEI), Indian Oil Corporation Ltd. (IndianOil) and China Petroleum & Chemical Corporation (Sinopec Corp). It has:

  • Approximately 800,000 gross acres of largely contiguous mineral rights in the Montney and over 15,000 identified drilling locations
  • Approximately 525 million gross cubic feet equivalent of natural gas production per day

The Progress-Sasol Montney Partnership was created with Sasol Canada Exploration. It has:

  • Over 100,000 gross acres of mineral rights in the Montney near Farrell Creek and Cypress
  • Approximately 100 million gross cubic feet equivalent of natural gas production per day

See also

References
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