Investing major resources in economic growth
IOSA represents independent, Alberta-based oil sands producers with a strong entrepreneurial spirit and we want to create a positive name for the oil sands and the province. By investing in new technologies and utilizing the best and brightest minds in the industry, we aim to make a name for ourselves globally for environmentally responsible energy development. This will strengthen Alberta’s ability to continue to be a world leader in oil sands technology.
IOSA’s member companies will have an important role to play in developing stable and secure supplies of energy. Our resources will ultimately help North Americans achieve energy independence as we all work to reduce our energy consumption and build a sustainable energy future.
Provincial Bonus Revenue
Collectively, we have invested more than $300 million dollars in over 500,000 hectares of oil sands leases from the Government of Alberta
Capital Spending
Combined, IOSA members have spent an estimated $2.5 billion on our projects to date and anticipate investing a further $7 billion over the next five years to develop our resource base. We build our in situ processing equipment in fabrication shops across North America.
Employment
Development of our oil sands leases will generate significant direct and indirect employment throughout Alberta and Canada. As a group, we typically employ over 1,500 Albertans during our winter drilling programs and estimate that we will collectively employ over 20,000 people during our projects’ lifetimes. Many of these jobs come directly from the local and Aboriginal communities in which we operate.