Deloitte:Innovation in Canada’s oil sands key

By Rob Starr, Content Manager, Big4.com

A new report from Deloitte says invest in water management, productivity enhancement and technology optimization in the oil sands to build Canada’s industrial future. 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.

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 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.

Geoff Hill, a partner in Deloitte’s Calgary office and national sector leader of its Oil & gas practice comments:

“Innovation is central to leveraging our comparative advantage as a significant and democratically stable producer of energy,” he said. “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.”