Why FMWB
Oil Sands Industry
The industry at the heart of it all
In 2018, Canada’s oil sands industry supported and created almost 217,000 jobs directly and indirectly (Source: Prism Economics and CAPP 2020). We are proud to contribute to the entire country’s economic success.
Created directly & indirectly
217,000
suppliers & companies
2,200
Spent on procurement locally
$12 Billion
contributed to canadian economy
$1 Trillion
Barrels of oil to recover
162 Billion
Throughout Canada, the oil sands industry works with over 2,200 suppliers and companies. Between 2017 and 2019, oil sands operators spent $12 billion on procurement locally with businesses in the Athabasca Oil Sands Region (SOURCE: CAPP 2021). By 2029, oil sands development will have contributed another $1 trillion to the Canadian economy (Source: CERI, 2019).
Canada has another 168 billion barrels of oil to recover. 162 billion of those are right here in the oil sands. (Source: AER 2020 and CAPP)
SUSTAINABLE INDUSTRY. SUSTAINABLE COMMUNITY.
The Fort McMurray Wood Buffalo energy industry is an active ESG leader in producing ethical and environmentally sustainable oil. Not just within Canada, but globally. And because of that, the opportunities for industry innovation continue to grow.
The innovation here is a product of the collaboration between the community and industry. Industry hires locally, spends locally, and invests locally. And while the benefits start locally, they extend well beyond our borders.
3RD LARGEST PROVEN OIL RESERVE IN THE WORLD
97% of Canada’s oil comes from the oil sands. 96% of oil sands are located in Fort McMurray Wood Buffalo.
Canada’s oil sands are the third largest proven oil reserves in the world. And Fort McMurray Wood Buffalo is home to the largest oil sands deposit in the world. Oil literally seeps out of the ground here.
INDUSTRY PARTNERS. BUILDING FORWARD TOGETHER.
Between 2017 and 2019, operators in the oil sands purchased goods and services valued at $5.9 billion from Indigenous businesses (Source: CAPP 2021). And in 2019, Indigenous companies in the Wood Buffalo region had direct business valued at $1.7 billion with oil sands operators, accounting for 73% of total Indigenous spend by oil sands companies. (Source: CAPP 2021)
TREATY 8 LAND ACKNOWLEDGEMENT
As we listen, grow and learn as a community of many diverse people, we acknowledge and honour those who were here for thousands of years before us. We are on Treaty 8 Territory—the traditional meeting grounds and gathering place of the Chipewyan, Cree, Dene and Métis.
SHARED SUCCESS WITH INDIGENOUS COMMUNITIES
The energy industry’s commitment to Indigenous communities has grown substantially over the past decade. It is a cornerstone for how business is done here.
With the Total Indigenous Spend increasing year over year in Fort McMurray Wood Buffalo, the oil sands industry is sending a clear message. Oil sands engagement and work with Indigenous peoples and communities is integral to advancing the success of the region. This collaborative spirit is at the heart of all we do.
On reclaimed lands, the Syncrude Bison Ranch is a joint venture between Syncrude and Fort McKay First Nation. This pioneering effort is making a difference in bison conservation.
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WE ARE NATURALLY ENRICHED, GLOBALLY COMPETITIVE.
Contact us about the unique opportunities available in Fort McMurray Wood Buffalo.
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