The Provincial Government joined its partners in industry and
education to kick off Oil and Gas Week 2010 to celebrate the exciting
activity happening in Newfoundland and Labrador's petroleum sector.
"Since first becoming involved in the oil and gas industry over 13
years ago, we have come a very long way in solidifying Newfoundland and
Labrador's reputation as a real player in the international energy
marketplace," said the Honourable Kathy Dunderdale, Acting Premier and
Minister of Natural Resources. "Oil and Gas Week is a chance for us to
celebrate our many accomplishments as an oil-producing province and
promote the opportunities still open to us that will help to sustain our
industry well into the future."
The Honourable Shawn Skinner, Minister of Innovation, Trade and Rural
Development, attended today's opening reception at the Marine Institute
in St. John's, on behalf of Acting Premier Dunderdale.
Oil and Gas Week was first started in 2003 as a partnership between
the Newfoundland and Labrador Oil and Gas Industries Association (NOIA),
the Canadian Association of Petroleum Producers (CAPP) and the
Provincial Government. It showcases the province's continually growing
petroleum industry and the valuable role it has in strengthening the
economy.
Oil and Gas Week features a variety of activities organized by the
members of the Oil and Gas Week Steering Committee. The committee is
made up of individuals from the provincial and federal governments,
industry and city officials. An important part of Oil and Gas Week is
the focus placed on high school, secondary and post-secondary students.
Students are introduced to the industry and the potential career
opportunities available to them.
"Continued growth and development will encourage people interested in
the industry to establish successful careers in the province," said
Acting Premier Dunderdale. "Many doors will be opened for our young
people and will provide them with bright and prosperous futures right
here at home in Newfoundland and Labrador."
This year's theme, Energy For Today and Tomorrow, is a true
testament to the impressive growth of the province's oil and gas
industry. Newfoundland and Labrador has three world-class producing
projects – Hibernia, Terra Nova, and White Rose which have collectively
produced over one billion barrels of oil. Hebron, the province's fourth
offshore project, is currently involved in the pre-Front End Engineering
and Design (pre-FEED) phase. Last week, the Provincial Government
finalized the formal agreement for the development of the Hibernia
Southern Extension. The project is expected to generate approximately
$13 billion in revenue for the province. Production is also expected
from the North Amethyst field this quarter.
The Provincial Government is also continuing to make several
significant investments in Western Newfoundland to support exploration
and future development. Drilling has already started on the first of
Nalcor Energy's three-well exploration program in Parson's Pond. The
program will provide both government and industry with crucial
preliminary information on how best to proceed with the development of
the region's untapped petroleum resources.
Oil and Gas Week runs from February 22-27. For a schedule of events
and activities, visit www.noianet.com/.
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