Province Ranks Top for Energy Sector Competitiveness
Saskatchewan is the most attractive jurisdiction in Canada for oil and gas investment, according to the Fraser Institute’s 2023 Canada-US Energy Sector Competitiveness Survey. Overall, Saskatchewan ranked third in the survey out of 17 competing jurisdictions.
“Saskatchewan continues to assert itself as a reliable energy investment jurisdiction,” Energy and Resources Minister Jim Reiter said. “Our government will continue to fight for, and support, the jobs and growth that 26,000 energy workers and their families in Saskatchewan have come to rely on. We look forward to further improving our investment attraction in the years to come.”
The province is the highest-ranked province and the only Canadian region to break the top five, with Alberta and British Columbia coming in ninth and 15th, respectively. This continues the province’s upward growth among jurisdictions in Canada and the United States (US) after ranking sixth in 2022, and 11th the year prior.
The Fraser Institute annually ranks US and Canadian provinces following a survey of senior executives in the upstream oil and gas sector. Respondents scored Saskatchewan favourably in areas relating to regulations, labour, taxation, infrastructure, and security.
Saskatchewan also ranked first in Canada for mining investment attractiveness, according to the Fraser Institute’s Annual Survey of Mining Companies: 2022. The province is home to occurrences of 23 of the 31 critical minerals on Canada’s list and the world’s largest deposits of potash and high-grade uranium. Total mineral sales for fiscal 2022 surpassed $19 billion.
Promoting Saskatchewan’s quality and sustainable energy products, as well as maintaining an attractive business climate, will ensure that Saskatchewan remains on track to meet its 2030 Growth Plan goals of increasing oil production by 25 per cent to 600,000 barrels per day.
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