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1996 Annual Report Back to Menu PDF (426 kb) 2000 09 18 HKM  |
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An Association that Facilitates Message from the Board of Directors 1996 has been an exciting inaugural year for PTAC. The seeds of concern within the conventional oil and gas industry to provide improved focus on the research and technology development dollars being spent, and to provide a vehicle for increased collaboration on research and technology development, have grown roots. Since April 1996, PTAC has progressed from being a conceptual model, that many industry players thought made a lot of sense, to an operating reality with numerous achievements to its credit. PTAC made considerable progress during 1996 in creating the mechanisms and tools that will lead to the launching of additional collaborative research and technology development projects in the future. Outlook for 1997 The main area of focus this year is the effective functioning of PTAC's Technical Subcommittees. They are currently establishing objectives for the year, including identifying needs, initiating collaborative projects to satisfy the needs, and ensuring projects are reviewed and communicated to members for collaborative participation. PTAC will be working with other organizations to ensure there is improved communication and less redundancy of effort while maintaining focus on technology development for the conventional oil and gas industry. We look forward to an increasing number of projects being undertaken in 1997 which will have significant benefit to all participants. Eric Lloyd, President, PTAC Larry Bell, Chairman, PTAC 1996 Achievements Incorporation PTAC formally incorporated on October 7, 1996, under part 9 of the Companies Act as a not for profit company. Financial Viability Achieved PTAC secured sufficient commitments to meet our projected annual budget of $270,000 for 3 years including:
Membership PTAC signed up a total of 54 members in 1996, including:
R&D Proposal Sessions PTAC initiated R&D proposal sessions in December 1996. This provides members with the opportunity to outline specific new R&D projects to interested companies. PTAC ensures the project summary receives wide distribution to members and oil and gas companies. Sessions are typically run at PTAC's offices, over lunch, with the goal of informing potential participants of benefits and project deliverables. Intellectual property is protected through the signing of confidential disclosure agreements by all participants, where required. Response to these sessions has been very encouraging, and PTAC expects these to become a regular featured activity. Technology Development Policy Committee PTAC created this committee with representation from various stakeholder groups to:
First R&D Project Launched PTAC assisted the University of Calgary with the launch of the R&D project, "Water Content and Physical Properties of Acid Gases." The Alberta Department of Energy (ADOE) awarded a "one-time" grant of $100,000 in support of this work as a result of PTAC's efforts. PTAC has also been instrumental in expanding industry participation in this project. This two year project will provide industry participants with the necessary information to design and operate acid gas reinjection systems both safely and economically. It is expected that the results of the R&D will permit certain acid gas reinjection systems that fall within a specified region of phase behaviour, to be constructed and operated without dehydration. This project is expected to clearly define that region resulting in significant capital or operating cost savings for participants. The results of this R&D will be kept confidential to funding participants during the project and for a two year period after completion of the final project report. Internet Website PTAC formally launched its website on December 2, 1996. The website contains both public and member only sections. The public may view all our informational material including R&D Proposals, the R&D Project Index, and our Events Calendar. Members have access to over 70 moderated technical forums and an extensive support library containing the following selections:
Technical Subcommittees PTAC launched five of the eight technical subcommittees including:
The process of working together to identify R&D needs and potential solutions has begun, and is considered critical to the success of PTAC. PTAC expects significant progress with the launch of the Drilling, Oil Production and Oil and Gas Transportation Technical Subcommittees in early 1997. There are also plans for numerous workshops and activities as the year unfolds. Association Working Relationships PTAC established working relationships with the Petroleum Services Association of Canada (PSAC), Society of Petroleum Engineers (SPE), Canadian Energy Pipeline Association (CEPA), and The Petroleum Society of Canadian Institute Of Mining, Metallurgy & Petroleum (CIM). Cooperation occurs in a number of areas such as distribution of information and joint participation in technical activities. Financials We have audited the financial statements of PTAC Petroleum Technology Alliance Canada for the period from commencement of operations on April 19, 1996 to December 31, 1996 and have reported thereon without reservation under date of February 14, 1997. The accompanying summarized balance sheet and summarized statements of revenues, expenses and surplus have been prepared from the audited financial statements. In our opinion, the accompanying summarized balance sheet and statements of revenues, expenses and surplus fairly summarize the information as to the financial position of PTAC Petroleum Technology Alliance Canada and the results of its operations contained in the audited financial statements. KPMG, Chartered Accountants, Calgary, Canada, February 14, 1997 Summarized Balance Sheet
Summarized Statements of Revenues, Expenses and
Surplus
being surplus at December 31, 1996 The complete audited financial statements of PTAC for the period from commencement of operations on April 19, 1996 to December 31, 1996 are available from PTAC offices upon request. Committees Production and Processing of Natural Gas Drilling Oil Production Well Completion, Stimulation and Workover Oil and Gas Transportation Reservoir Recovery Geoscience Basic Research Board Larry Bell, Chairman, PTAC; Crestar Energy Inc. |
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| For further information or printed copies of PTAC's Annual Reports please contact: | |
PTAC Petroleum Technology Alliance Canada 8th Flr., One Palliser Square 125 - 9th Ave. S.E. Calgary, Alberta T2G 0P8 website: http://www.ptac.org fax: (403) 920-0054 e-mail: Eric Lloyd, President Arlene Merling |
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