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Economic Impact of Marine Related Activities in Canada

Appendix A: Offshore Crude Oil and Natural Gax Value of Output Estimates

Table A-1: Estimate of output value (revenues) for Atlantic Region offshore oil projects
Year Production Volume (cubic metres)1 Production Volume (mcf)2 Price US$/mcf3 CDN$/US$4 Export value CDN $5 Toll $/mcf6 Pipeline toll $7 Netback to SOEP $8
2000 3,597,144 127,033,137 4.50 1.49 851,757,187 1.2 152,439,765 699,317,422
2001 5,375,353 189,828,778 4.47 1.60 1,357,655,422 1.2 227,794,534 1,129,860,888
2002 5,474,993 193,347,514 3.49 1.57 1,059,409,033 1.2 232,017,017 827,392,016
2003 4,665,769 164,770,062 5.85 1.40 1,349,466,811 1.2 197,724,075 1,151,742,736
2004 4,327,897 152,838,235 6.44 1.30 1,279,561,705 1.2 183,405,882 1,096,155,823
2005 4,225,762 149,231,375 9.40 1.21 1,697,357,655 1.2 179,077,650 1,518,280,005
2006 3,794,706 134,008,769 7.73 1.13 1,174,696,744 1.2 160,810,522 1,013,886,222
2007 4,403,030 155,493,001 7.57 1.08 1,265,363,168 1.2 186,591,601 1,078,771,567
2008 4,636,880 163,751,413 9.50 1.07 1,658,310,564 1.2 196,501,696 1,461,808,868

1. CNSOPB annual production volume. http://www.cnsopb.ns.ca/production.php
2. Converted to mcf (thousand cubic feet) @ 1 mcf = 0.02831685 m3
3. US Energy Information Agency, based on price of natural gas via pipeline to Calais (2008 preliminary). http://tonto.eia.doe.gov/dnav/ng/ng_move_poe1_a_EPG0_PRP_DpMcf_a.htm
4. Average annual exchange rate (Bank of Canada). http://www.bankofcanada.ca/en/rates/exchange_avg_pdf.html
5. Value of production in CDN $
6. Toll on Maritimes & Northeast Pipeline
7. Toll cost/year
8. Netback to SOEP used as driver for I-O model

Table A-2: Estimate of output value (revenues) for Atlantic Region natural gas projects
  Production (millions of barrels)1 Price US$/bbl2 Revenue US$ (millions)3 Exchange rate CDN$/US$4 Revenue CDN$ (millions)5
Hibernia Terra Nova White Rose Total
1997 1 0 0 1 19 24 1.38 33
1998 24 0 0 24 13 304 1.48 449
1999 36 0 0 36 18 651 1.49 967
2000 53 0 0 53 29 1,513 1.49 2,247
2001 54 0 0 54 24 1,328 1.55 2,056
2002 66 38 0 104 25 2,600 1.57 4,082
2003 74 49 0 123 29 3,567 1.40 4,994
2004 75 40 0 115 38 4,370 1.30 5,681
2005 73 35 3 111 55 6,105 1.21 7,387
2006 68 12 30 110 65 7,150 1.13 8,108

1. CNLOPB annual production volume. http://www.cnlopb.nl.ca/stat_rm.shtml
2. Price based on Brent spot price, FOB Whiffen Head, Newfoundland and Labrador. http://tonto.eia.doe.gov/dnav/pet/hist/rbrteA.htm
3. Value of production in US$.
4. Average annual exchange rate (Bank of Canada). http://www.bankofcanada.ca/en/rates/exchange_avg_pdf.html
5. Revenue in Canadian dollars used as driver for I-O model

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