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Premier Tobin pleased with Petro-Canada's announcement of key east coast personnel

Premier Brian Tobin is pleased with Petro-Canada's announcement to locate senior personnel in St. John's as part of the company's Offshore Development and Operations strategic business unit.

"Petro-Canada's decision to open an office in St. John's is positive for everyone involved in the oil and gas industry in this Province. The business unit will be the first point of contact for Newfoundland and Labrador businesses and provide them with greater access to decision-makers. It will also mean that local businesses will receive more timely notification of opportunities arising from Petro- Canada's involvement in the offshore."

Premier Tobin added: "Petro-Canada has been an important part of the development of Newfoundland and Labrador's oil and gas industry since it shared in the Hibernia oil discovery in 1979. Now Canada's fifth largest producer of oil, Petro-Canada has targeted the Grand Banks oil reserves as a growth area for the company. I believe this is yet another indication that the Province is quickly becoming the oil and gas capital of eastern Canada."

Petro-Canada is a partner in the Hibernia Consortium, Terra Nova Project and the Transhipment Terminal and several other discoveries offshore Newfoundland and Labrador.

Contact: Heidi Bonnell, Premier's Office, (709) 729-3564.