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Natural Resources
February 28, 2011

Oil and Gas Week Celebrates Exciting Opportunities
in the Petroleum Industry

In support of Newfoundland and Labrador’s petroleum industry and opportunities for future growth and exploration, Oil and Gas Week 2011 was officially launched today. The Honourable Shawn Skinner, Minister of Natural Resources, joined industry partners at Memorial University to kick off the week.

“The petroleum industry is a major economic driver in the province and represents nearly 40 per cent of our Gross Domestic Product, while providing meaningful employment to residents throughout Newfoundland and Labrador,” said Minister Skinner. “It is important to understand the value of the industry and the tremendous benefits we receive from the development of our petroleum resources. Oil and Gas Week is our opportunity to work closely with our partners to promote the industry, and the variety of career possibilities available right here at home.”

Events planned during Oil and Gas Week will encourage a greater understanding of Newfoundland and Labrador’s petroleum industry and its role in strengthening the provincial economy. Newfoundland and Labrador has four producing oil fields – Hibernia, Terra Nova, White Rose, and North Amethyst. To date, the province has total discovered reserves of 1.2 billion barrels of oil, and 11 trillion cubic feet of natural gas. Nationally, Newfoundland and Labrador currently produces about 35 per cent of Canada’s conventional light crude oil production. Real GDP and employment are expected to increase in the province as activity related to the Hebron development begins to ramp up. Construction of the gravity-based structure for Hebron is set to begin in 2012 at the Bull Arm industrial fabrication facility.

“Oil and Gas Week is a time to celebrate the positive contributions the industry is making on the lives of the people of Newfoundland and Labrador,” said Sean Power, Chair of the Oil and Gas Week Committee, comprising officials from the provincial and federal governments, industry and the City of St. John’s. “Activities this year are focused on educating young people about career opportunities in the industry, while highlighting the impact the oil and gas sector is making province-wide.”

An important focus of Oil and Gas Week is to inform secondary and post-secondary students about the emerging and potential career opportunities available to them within the industry. On Thursday, March 3, petroleum companies will introduce high school students to the industry and provide information on future employment during Energy Day Newfoundland and Labrador – Exploring Careers in Oil and Gas, scheduled to take place at the Johnson GEO CENTRE in St. John’s.

“Our government recognizes the important role of young professionals in the future growth and success of our oil and gas industry, and indeed all of our provincial resource industries,” added Minister Skinner. “I encourage students to examine the meaningful careers available in Newfoundland and Labrador and the natural resources sector which holds tremendous potential for those who want to help build a prosperous future for the province.”

Oil and Gas Week 2011 concludes Friday, March 4. Additional information can be found at www.noianet.com/partnershipactivities.aspx?cid=1

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Media contacts:

Heather Maclean
Director of Communications
Department of Natural Resources
709-729-5282,697-4137
heathermaclean@gov.nl.ca
Beverley Bishop
Oil and Gas Week Communications
Oil and Gas Week Committee
709-758-6618, 691-1004
bbishop@noianet.com 

2011 02 28                                                                          2:10 p.m.

 
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