Today, the Honourable Kathy Dunderdale, Minister of Natural Resources, joined students and industry representatives to celebrate the launch of Oil and Gas Week 2008 at an event at Memorial University�s Faculty of Business Administration building.

"Oil and Gas Week is an opportunity to celebrate this industry and the many ways it is helping to build a stronger Newfoundland and Labrador," said Minister Dunderdale. "This industry is not only having a major impact on the province�s economy, it�s providing our young people with excellent opportunities to pursue dynamic and exciting careers right here at home."

Oil and Gas Week�s purpose is to raise the profile of the industry in Newfoundland and Labrador and build an appreciation for its impact throughout the entire province. Each year, the week-long event focuses on educating secondary and post-secondary students about the variety of opportunities the industry presents by offering events and information on oil and gas careers and how students can become engaged.

"We have produced nearly one billion barrels of oil in the past 10 years and geoscientific estimates suggest another six billion barrels remain undiscovered," said the minister. "This resource and our Energy Plan initiatives present students with wonderful opportunity to build careers in this industry and to contribute to our province�s long-term success."

The Provincial Government is pleased to be part of this annual event, which strengthens its message that oil and gas play an essential role in the life of the province today and will continue in this role well into the future. With good planning and leadership, Newfoundland and Labrador has the resources and the abilities to build a sustainable economy for the people of the province today and for generations to come.

The 2007 Memorandum of Understanding on developing Hebron and the final agreement on developing the White Rose Expansion demonstrate the strides the province is making towards getting a better return from oil and gas resources. The agreements provide the province with super royalties during times of high oil prices, significant industrial benefits and for the first time in the province�s history, equity stakes in oil and gas projects.

Oil and Gas Week runs from February 24 to March 1 and is a joint industry and government initiative. To find our more about the week�s events, visit www.nloilandgasweek.ca

For more information about careers ion the oil and gas sector, visit //www.oilandgascareerinfo.ca

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Media contact:

Corey Snook
Communications and Marketing Manager
Department of Natural Resources
709-729-5777, 728-2837
coreysnook@gov.nl.ca