CGEF is the ultimate networking society, advocating for Canadian international oil and gas companies, while facilitating communication between E&P companies, oilfield services, government and academia, through the sharing of expertise, technology and opportunities.
The past four years has been a challenge for the oil and gas industry, but with oil prices continually rising, opportunities are revealed that could not be entertained in a low oil price environment. Companies are emerging leaner and stronger, and once again positioning for growth, and expansion into new areas; not only to test new technology but to promote and embrace renewable energy sources and utilize Clean Technologies.
Financing for our international E&P companies continues to be a challenge. On a positive note, it is getting easier now to justify exploration and development in areas that were not economical a few years ago. There are many advantages for companies to seek international opportunities as they are not faced with some of the obstacles prevalent in our domestic industry. That said, operating in other countries comes with a different set of challenges, requiring patience and hard work to navigate political, regulatory, fiscal and cultural differences. Canada has been at the fore-front in developing anticorruption laws, setting precedent on how Canadian companies operate in other countries, along with regulatory excellence and Corporate Social Responsibility (CSR).
Our technological advances and enhanced recovery efforts, give our Canadian international companies a competitive advantage in the international arena, helping to lower costs and increase production in many underexplored and underdeveloped basins containing conventional and unconventional assets with large reserves. Our current CGEF membership has made a significant difference globally and have left our Canadian footprint in over 50 countries.
CGEF is the only global organization that includes service companies and our high-level of sponsorship is essential to our organization, adding incredible value, expertise, and a wide range of international experience in support of CGEF’s objectives to promote our Canadian industry around the globe.
At CGEF, we are very excited for the future of the Canadian International Oil and Gas industry and are starting to see numerous start-ups announced with highly experienced teams. We have had time to regroup, learn, innovate and emerge from the last few years, ready to test our ideas globally.
We continue to promote our oil and gas industry, and as operators we bring along our Canadian services with us on our journey. With our current mandate for our association, we feel we are at the onset of something transformational for global recognition of our Oil and Gas Industry.
CGEF Co-Founder & President