Oil & Gas Services (OGS) Sector, a top economic contributor to Canada’s economy

The OGS sector grew to $75 billion in 2009, positioning this sector as a top contributor to Canada’s gross domestic product (GDP), according to a new study.

While oil and gas exploration and production (E&P) companies are readily recognized for the major contribution their sector makes to Canada’s economy, the hundreds of companies and tens of thousands of workers in the OGS sector that support producers’ efforts, often gets overlooked as a top contributing sector in its own right.

The study, The Contributions of the Canadian Oil and Gas Services Sector to the Canadian National Economy, shows that:

The OGS sector’s considerable growth over the three-year period between 2006 and 2009, reflects a continuing trend of E&P companies contracting out elements of the oil and natural gas development process to the OGS sector with forty percent of the economic benefits from OGS occurring outside Alberta.

A copy of the full report is available here. For more information, please contact Doug Journeay at djourneay@psac.ca.