Innovation in Canada’s oil sands key to advancing economic longevity and sustainability of global energy development
News Release
CALGARY, June 7, 2012 – Invest in water management, productivity enhancement and technology optimization in the oil sands to build Canada’s industrial future, says a new report from Deloitte. Putting innovation at the center of oil sands development, the report argues, will help to make Canada a leader in efficient and sustainable energy technology and produce benefits that extend far beyond not only the energy sector but also Canadian borders. The innovation imperative: A roadmap for oil sands advancement outlines how concentrated focus on innovation in these three primary areas will be crucial for an industry already laying the groundwork of a global model for responsible resource development.
“Innovation is central to leveraging our comparative advantage as a significant and democratically stable producer of energy,” says Geoff Hill, a partner in Deloitte’s Calgary office and national sector leader of its Oil & Gas practice. “Canada already leads the world in heavy oil technology, but achieving true progress requires sound practices and a strategic approach. This is about embedding research and development in the business culture and embracing activities and processes that lead to game-changing technologies critical for sustainable and enduring oil sands development.”
Ongoing collaboration within industry, between industry and universities in the area of water innovation and management is crucial to maintaining a high-quality water supply, according to the report. The oil sands industry needs to put aside its traditionally autonomous and competitive approaches to R&D when it comes to water management, as these are increasingly out of step with the principle of sustainability. Instead, the emphasis should be on supporting research and public awareness efforts that focus on the overall importance of water as a world resource and then leading by example.
The report also notes that the sheer scale of oil sands development and the broad range of skills and technological expertise required provide a significant opportunity to help close Canada’s productivity gap. Whether it’s working with government to retool the immigration system, streamlining and speeding up the regulatory approval process or building consensus around the importance of R&D as a core innovation driver, the ultimate goal is to shift from trying to predict the future to creating it outright.
“Oil sands development is among the most important industrial activity in Canada to business, government and the general public,” says Hill. “The innovation imperative contributes to the on-going debate around the sustainable development of this important resource, which we believe can lead to spinoff benefits, both nationally and globally, in terms of promoting Canadian-generated expertise in resource management in any number of applications.”
The report also identifies five key areas in technology where targeted investment can help make continuous improvement the norm while establishing global centres of excellence. These include energy efficiency, waterless or near-waterless processes, tailings remediation, co-generation and clean technologies, and collaborative water management.
For a more detailed discussion of Deloitte’s analysis and recommendations, read the full report at www.deloitte.com/ca/innovation-imperative.
Contact:
Sean McCann / Suzanne Settino
Hill+Knowlton Strategies Canada
Tel: 403-268-7859 / 416.413.4692
Email: sean.mccann@hkstrategies.ca
Email: suzanne.settino@hkstrategies.ca
Vital Adam
Senior Manager - Public relations
Deloitte Canada
Tel: 1 514 393-5281
Email: viadam@deloitte.ca