Oil and gas drilling sector expects activity to pick up in 2023

The organization that represents Canada’s oil and gas drilling sector says it expects more activity in 2023.

The Canadian Association of Energy Contractors (CAOEC) says it expects 6,409 wells to be drilled in Canada in 2023, an increase of about 15 percent from 2022.

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The CAOEC predicts that 42,350 people will be directly and indirectly employed by the drilling sector in 2023, an increase of more than 5,400 jobs year-on-year.

The industry group says it expects a boost next year from the completion of the Trans Mountain pipeline expansion and the Coastal GasLink project, both of which will increase Canadian oil and gas capacity.

It says the energy transition also creates opportunity for drillers in areas such as helium, carbon capture and storage, in-situ hydrogen, and mineral extraction from oil field brines.

The group says labor recruitment and retention remains a challenge to overcome in the energy industry.

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