Four local organizations receive funding through Canada-Newfoundland Offshore Development Agreement

Four local organizations receive funding through
Canada-Newfoundland Offshore Development Agreement

The federal and Newfoundland governments today announced joint funding for four local organizations totalling $4.1 million for projects under the Canada-Newfoundland Offshore Development Fund Agreement.

The announcement was made in St. John's by Dr. Rex Gibbons, Minister of Mines and Energy and by Fred Mifflin, Minister of Fisheries and Oceans, on behalf of Anne McLellan, federal Minister of Natural Resources.

The four organizations are the Canadian Centre for Marine Communications, INSTRUMAR Limited, Guigne International Limited, and a collaborative venture between OCEANS Limited and Frank X. Penicka.

"The contributions we are announcing today demonstrate our commitment to ensure that local organizations can create new jobs, stimulate local and regional economic diversification, and derive long-term benefits from offshore petroleum activities," said Mr. Mifflin. "In an industry with high risk and large capital requirements, the types of technology that are being developed in Newfoundland and Labrador have world-wide applications."

"With the first oil from Hibernia expected in less than a year, we are entering a new phase in the development of our oil and gas industry," said Dr. Gibbons. "The funding announced today will enable these organizations to further develop equipment that is of strategic importance to the development of our offshore petroleum industry."

The Canadian Centre for Marine Communications (CCMC) received $2.5 million to initiate a three-year marine geomatics program. Working in partnership with the province's ocean-based high technology sector, CCMC will develop and integrate marine geomatics products and services for the offshore petroleum industry. Together, CCMC and industry will pursue global commercial opportunities in this area.

INSTRUMAR Limited received $1,047,000 to support the development of a Multiphase Flow Meter (MPFM). The objective of this program is to design, construct, field test and demonstrate a full-scale MPFM prototype in an oil production environment and move straight into production of this equipment.

Guigne International Limited received $415,000 to develop a new underwater sonar system called NDT-DRUMSTM that can verify the quality and integrity of offshore platform steel caissons.

The collaborative venture between OCEANS Limited and Frank X. Penicka, a local oceanographer, received $160,000 to improve the industrial marine weather forecasting capabilities of OCEANS Limited. This project will develop a better understanding of wind stress and ocean waves for the benefit of the offshore petroleum industry and other marine users.

1997 03 14

2:30 p.m.

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