Saskatchewan is ranked best in Canada as the place for oil and gas investment, according to the 2011 Global Petroleum Survey released on June 27 by the Fraser Institute.
The Institute noted Saskatchewan offers investors confidence in a stable, competitive royalty and regulatory structure.
Energy and Resources Minister Bill Boyd said the Fraser Institute's findings show the results of Saskatchewan's commitment to sound fiscal policy.
"A stable, predictable royalty and taxation framework is key to attracting new investment and maintaining the robust growth of our economy," Boyd said. "Saskatchewan's rank as Canada's preferred province to invest is testament to the importance of that stability. Our government is committed to moving Saskatchewan forward, and we will continue to offer the business climate that is essential to keep our province growing."
Saskatchewan moved up from second place last year to be ranked the best in the country out of the ten provinces and territories rated this year.
Internationally, Saskatchewan was ranked 11th best in the world out of the 136 different provinces, states and countries that the Fraser Institute assessed worldwide. That also is up from Saskatchewan's 17th place ranking last year.
Of Saskatchewan's main competitors for investment capital, Alberta was ranked sixth in Canada and 51st worldwide, while British Columbia was ranked eighth in Canada and 69th in the world. Newfoundland and Labrador was ranked fifth in Canada and 50th in the world.
This year's survey evaluated 136 different jurisdictions across Canada and around the world. The exploration and development budgets of companies who participated in the survey account for more than 60 percent of annual spending on a global basis.
