May 8, 2017
The following statement was given today in the House of Assembly by the Honourable Siobhan Coady, Minister of Natural Resources:
Making Strategic Connections at the Offshore Technology Conference
Mr. Speaker, I rise in this Honourable House to reflect on the cautious optimism I experienced last week at OTC - the annual Offshore Technology Conference in Houston. The projections are looking up for the oil and gas industry, and that feeling was echoed by the many people I met.
By working with industry partners, many of whom were a part of the more than 100-member delegation from this province, and through collaboration with the Oil and Gas Industry Development Council, we are positioning Newfoundland and Labrador globally as a preferred location for oil and gas development.
While at OTC this year, I had the pleasure to meet with colleagues from Nova Scotia and Alberta and current operators including ExxonMobil and Statoil. I also met with new entrants into the province’s offshore industry such as Hess Canada Oil & Gas and B.P. Canada, who were successful in the 2016 call for bids which had a total value of $758 million in work commitments, as well as Total and Anadarko.
I had the opportunity to tour the Maersk Simulation and Training Facility in Houston and was impressed by the innovative, cutting edge technology and commitment to safety and quality that prevails throughout their operations. I also participated in the official signing of the agreement that will see the appointment of Alexander/Ryan Marine & Safety as distributor for Virtual Marine's lifeboat simulator systems, which are used in Canada and globally.
At OTC, I met with operators and industry colleagues and shared just how vast the potential is here. Offshore Newfoundland and Labrador is considered one of the top frontier regions in the world today with over 350 leads and prospects. Through extensive geoscience, that includes seismic acquisition, we have quality data on our offshore prospects which is attracting global attention.
Mr. Speaker, while at OTC, I had the opportunity to invite delegates to Noia’s upcoming Oil and Gas Conference being held in St. John’s from June 19 to 22. This offshore conference – the largest in Canada – will offer the most up-to-date information from Newfoundland and Labrador’s offshore oil and gas industry and provide delegates with crucial information on trends and business opportunities.
2017 05 08 1:55 p.m.