Progress is an upstream energy company focused on the responsible development of unconventional natural gas. The company’s dominance in the world-class Montney play and abundant long-term growth potential positions Progress as a partner of choice.
Together with its North Montney Joint Venture partners, Japan Petroleum Export Corporation (JAPEX), PetroleumBRUNEI, IndianOil Corporation, and Sinopec-China Huadian, Progress is the largest natural gas reserves owner in Canada with approximately 800,000 acres of largely contiguous mineral rights in the North Montney and over 52 trillion cubic feet of reserves and contingent resources. Progress is the operator of the joint venture, which has more than 15,000 identified drilling locations.
Progress is wholly owned by Petroleum Nasional Berhad (PETRONAS), Malaysia’s integrated energy corporation. While Progress has kept its logo in recognition of its roots as a Canadian company with tremendous success in building a resource base in northeast British Columbia, the company changed the colour to the PETRONAS green in 2017. This change celebrates the collaboration between one of the largest FORTUNE Global 500 companies and the largest natural gas resource holder in western Canada and also signals PETRONAS’ long-term commitment to Canadian resource development.
The adoption of emerald green into the Progress Energy logo in 2017 further signals PETRONAS’ long-term commitment to Canadian resource development and building sustainable relationships with our valued partners and stakeholders: local communities, First Nations, governments, regulators and service providers.