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Planning underway for participation in international petroleum shows Ed Byrne, Minister of Natural Resources, advised today that planning is now underway to ensure Newfoundland and Labrador has a strong presence at the 2005 international oil and gas exhibitions. The two key international shows include the Offshore Technology Conference (OTC) in Houston, Texas, May 2-5 and Offshore Europe 2005 in Aberdeen, Scotland, taking place September 6-9. "I encourage local companies to participate in these high-profile exhibitions which provide Newfoundland and Labrador with the opportunity to promote our oil and gas potential as well as our growing capacity to support the industry," said Minister Byrne. "Experience has told us that these exhibitions are very important to seeking out new business opportunities for our local supply and service companies." The OTC in Houston is the world�s largest international oil and gas exhibition attracting approximately 50,000 visitors and as many as 1,800 exhibition companies. Offshore Europe 2005 features some 1,400 exhibits with delegations and representatives from approximately 34 different countries. The show normally hosts about 30,000 visitors. Minister Byrne indicated that Newfoundland and Labrador has had strong representation at these shows since the discovery of the Hibernia oil field. Some 50 local companies regularly participate in these shows and partner with the provincial government on the associated costs. "We anticipate that our presence will draw a lot of attention from the participants at these exhibitions," said Minister Byrne. "There is growing interest in this province�s resources, infrastructure and capacity in the oil and gas industry." Minister Byrne said the provincial government will take advantage of these exhibitions to market to the oil and gas players the potential that exists for discoveries both offshore and onshore. "One of the keys to ensuring that our industry continues to grow is to have more exploration," said Minister Byrne. "And there are positive signs that exploration activity is on the rise. We expect a well to be drilled in the South Whale Basin in 2005 - marking the first time a well has been drilled in that basin since 1987. We have also seen seismic exploration in the Orphan and Laurentian Basins as well as offshore Labrador during the past two years. Onshore, we expect there will be one or two exploration wells drilled." Minister Byrne further stated that government would also like to see another oil and gas development get underway. "The White Rose project is expected to begin production either late this year or early next year. Once the project hits peak production, our offshore will produce nearly half of Canada�s conventional light crude oil. This will certainly be a significant milestone for our industry," said Minister Byrne. "However, another development remains critical with the obvious one being the development of the Hebron Field. We understand the project proponents are working towards a Joint Operating Agreement and we hope this will lead to an announcement in the near future that this project will move forward." Companies interested in participating in the Houston and Aberdeen exhibitions should contact the Department of Natural Resources at (709) 729-5681. Media contact: Carmel Turpin, Communications (709) 729-5282, 685-4624 2005 01 18 2:25 p.m. |
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