Natural Resources
May 11, 2016
The following statement was given today in the House of Assembly by the Honourable Siobhan Coady, Minister of Natural Resources:
Newfoundland and Labrador Showcases Prospects at Offshore Technology Conference
I rise today to report on the successful participation in the Offshore Technology Conference held last week in Houston. One hundred representatives from the province attended - from supply and service companies, industry associations, offshore operators and government.
From 2013 to 2015, employment in the province averaged in excess of 10,000 persons per year for Hibernia, Terra Nova, White Rose and Hebron. Additionally, those projects have seen expenditures of close to $9 billion in this province over the same period.
During the week, I presented to delegates and focused on the opportunities in offshore Newfoundland and Labrador. Seismic data has validated the incredible prospectivity offshore with over 350 leads identified. Working with the represented companies, meeting with operators, discussing the benefits of doing business in Newfoundland and Labrador made for a productive week.
Companies also reported a successful week:
- Oceanic Consulting Corporation met with clients from the United States, Europe and Australia and gained new business opportunities.
- Pro-Dive Marine Services indicated that companies are eager to meet as everyone is looking for work in this market.
- Kvaerner demonstrated their business concepts and met with existing and potential clients, business partners and suppliers.
- Virtual Marine Technology met with global drilling contractors and have initiated commercial discussions with at least two regarding the potential use of the company's lifeboat simulators.
- GRi Simulations Inc. announced a business partnership with Underwater Group of Brazil.
We will continue to work hard to encourage growth, development and opportunities in the oil and gas industry in Newfoundland and Labrador.
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2016 05 11 2:20 p.m.