Minister provides update on Offshore Northern Seas conference

Mines and Energy Minister Lloyd Matthews today provided an update on activities that took place during the Offshore Northern Seas conference held last week in Stavanger, Norway.

Offshore Northern Seas is considered one of the world�s leading conferences and exhibitions for the global oil and gas industry. It has become an important forum for the international offshore industry and key to an expanding market for petroleum-related technology and services.

"This conference provided the province with numerous opportunities to meet with key players in the global petroleum industry," said Minister Matthews. "This is in keeping with the province�s commitment to promote and encourage new investment in our oil and gas sector.

"I participated in several meetings with senior officials from Norsk Hydro, a company that has interests in Hibernia, Terra Nova and Hebron/Ben Nevis. After lengthy discussions with these industry partners, I am more confident than ever that this company has a long-term interest in the Newfoundland and Labrador petroleum industry. Officials have expressed their confidence in Hibernia and Terra Nova, and are considering different alternatives for a possible Hebron/Ben Nevis development."

The minister also noted that he visited several offshore facilities in Norway including the Norsk Hydro Research Centre in Bergen, the Offshore Oseberg Field and the Aker-Kvaerner Fabrication yard in Egersund.

"These visits were invaluable when examining the potential for our own industry," said Minister Matthews. "Norsk Hydro is currently developing a production platform at the Aker-Kvaerner yard to develop their Grane project. That development has similar characteristics to the Hebron/Ben Nevis field. If a positive decision is taken on the development of this project, I am hopeful that our past experience and skilled labour force will be utilized to build the infrastructure needed for this field."

Government will continue to participate in international conferences and trade shows like Offshore Northern Seas to ensure that this province�s oil and gas resources are promoted in a manner that will encourage new investment.

Media contact: Darrell Mercer, Communications, (709) 729-5777.

2002 09 06                                    12:35 pm.