Pacific Oil & Gas completes takeover of Canbriam Energy

Pacific Oil and Gas (PO&G) has completed the acquisition of Canbriam, an Alberta headquartered private exploration and production company, which focuses on liquids rich natural gas development.

Read: Asia Pacific oil & gas companies to offer improved incentives despite budget cuts

In Canada, PO&G owns the planned LNG export-terminal Woodfibre LNG, a project currently in pre-construction phase. Once built, Woodfibre will be the world’s cleanest LNG facility, using renewable hydro electricity to power the plant.

In the upstream sector, PO&G’s activities are focused on exploration, development and production of oil and gas on and around the island of Sumatra, Indonesia. Its midstream and downstream operations include the development of LNG receiving terminals and large-scale Combined Cycle Gas Turbine (CCGT) power plants in China.

Ratnesh Bedi, President of PO&G expects the acquisition to further the company’s aim to continue producing the “cleanest natural gas from the Montney region, and to help reduce global GHG emissions by sharing that resource through international export”, he said.

Paul Myers, Canbriam’s President and CEO added that the integration will enable them to continue to “responsibly develop (our) prolific, low-cost Montney resource to support future natural gas export opportunities in Canada”.

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