NLIS 2
January 27, 2003
(Mines and Energy)

 

Minister promotes provincial petroleum industry

Mines and Energy Minister Lloyd Matthews is in Calgary this week to speak to members of the Canadian Association of Petroleum Producers (CAPP) and to address the Canadian Energy Research Institute (CERI) World Oil Conference on January 27 and 28. Minister Matthews will be the keynote speaker at a Monday breakfast meeting sponsored by CAPP and at Tuesday�s conference luncheon.

"Speaking engagements and meetings such as this provide the province with an opportunity to highlight the positive and exciting things taking place in our petroleum industry," said Minister Matthews. "It is necessary to take advantage of such events to promote our oil and gas resources and to encourage new exploration to the national and international investment community.

"The timing of this event is very beneficial, as it will allow us to demonstrate what Newfoundland and Labrador has to offer, especially with the recent resolution of the offshore boundary with Nova Scotia. We expect the conversion of old federal permits to modern exploration licences in the resource-rich Laurentian Sub-basin to be completed in the near future, and now is an ideal time for companies to develop new exploration strategies." 

The minister said that he is excited by the new exploration that is already on the horizon with the imminent arrival of the deep-water drilling rig, the Eirik Raude, which will drill two wells in the Flemish Pass Basin in the coming weeks. 

Mr. Matthews says that Newfoundland and Labrador is recognized as a strong player in the global petroleum industry, and world conferences such as this will increase exposure, as well as significant business potential, for the province.

Media contact: Darrell Mercer, Communications, (709) 729-5777, 687-0477 (cell) 

2003 01 27                                       11:40 a.m.


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