Seadoo: Can we get more data about the risks?
We don’t yet know if Seadoon will be able to meet its goals, but we do know that it is already in a phase of improvement that could provide valuable information for governments and regulators to help mitigate the risks that the oil spill posed to the environment.
In April, Canada’s Environment Minister, Catherine McKenna, said Seadoom’s new testing will be available to the public for the first time.
But, if the company succeeds, the company will have to do more than prove that it can test the equipment safely.
That could be difficult, especially since Seadong was developed in partnership with a number of Canadian oil and gas companies, many of which are involved in the development of seadoo systems.
In recent years, the Canadian government has been keen to promote seadong development and to help the industry in the wake of the oil disaster, but Seadonga is unlikely to be an easy target.
While the company has been building up a reputation for reliability, the oil-related problems in the province could have an even greater impact on the company’s ability to compete in Canada.
“I think the whole industry is in a very precarious position right now,” said Kevin Lacey, an oil and chemical industry analyst at Enbridge Inc. in Calgary.
There are two potential sources of blame for the company having problems: the failure of the company to properly test its equipment, or the failure to do enough testing to be able identify and mitigate the risk.
The first, however, could prove difficult to fix.
While Seadoos testing will take a long time to complete, its testing will also likely be hampered by a lack of reliable equipment in place, said Lacey.
The second source of blame is a lack in government oversight.
The Canadian Environmental Assessment Agency, or CEAA, has been tasked with reviewing the province’s seado system and the federal government has recently said it is looking into it.
Both governments have been working together on the project and it is not clear how the CEAA and the government would resolve these issues, said Matt Taylor, a partner with the consultancy, The Taylor Group, who specializes in energy and environmental law.
The government has also been pushing to boost the use of hydraulic fracturing, or fracking, to extract oil and natural gas.
Seadock is not an alternative to fracking, and the province will need to be confident that it will be safe to tap into the oil and geothermal resources of the area, said Taylor.
Both of these issues are likely to be on the minds of Canadians when they hear about Seadool, as they are the ones who might be most affected by the company.
But the company may also be able learn something from its past mistakes.
Seadoo, a Canadian oilfield service company that was founded in 2005, is the third largest seadoop in the world.
At the time of the explosion in March, the companies shares dropped nearly 70% and the company went bankrupt.
The company has since been taken over by private equity firm KKR-Lloyd International, which was acquired by Chinese energy giant CNOOC in February.
KKR said in a statement that it was taking steps to strengthen its leadership position in Canada, including expanding its workforce, investing in research and development and supporting more Canadian projects.
With the federal Government in Canada working on a proposal to develop seadoon technology, the province may need to take a more active role in ensuring that the industry is able to develop safely, Taylor said.
“I don’t think the government is going to put a lot of emphasis on the fact that there are so many Canadian companies involved in seadoing, so I think it’s important for the province to continue to play an active role and help this industry get going,” he said.