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A branch of economic geology, petroleum geoscience studies the origin, migration and accumulation of oil and gas, particularly for the discovery and development of profitable deposits.
The majority of subsurface petroleum and natural gas resources in British Columbia are owned by the Province. By entering into a tenure agreement with the Province, private industry can develop these resources.
The Province collects royalties for oil and gas developments on Crown land. These help support British Columbia’s economic prosperity while ensuring that producers receive a fair return on their investments.