CANADA'S OIL, GAS RESERVES SLID IN 1990

09/16/1991
Canada's conventional oil reserves and natural gas reserves declined in 1990, Canadian Petroleum Association figures show. Crude oil reserves were estimated at 4.4 billion bbl, down 6.7% from yearend 1989. Gas reserves were 71.7 tcf, down less than 1%. Oil operators replaced only a combined 27% of 1990 production. No changes occurred in established reserves in nonproducing frontier fields. The first East Coast offshore production is scheduled for 1992 when Panuke/Cohasset oil fields start up off Nova Scotia. Facilities are under construction for Hibernia oil field off Newfoundland, but the field will not begin pro...
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