The following statement was given today in the House of Assembly by the Honourable Kathy Dunderdale, Premier of Newfoundland and Labrador:

Premier Attends Offshore Technology Conference in Houston

Mr. Speaker, I rise in this Honourable House today to highlight the tremendous work that took place at the Offshore Technology Conference, which I attended in Houston, Texas last week. This was a valuable opportunity for me to not only discuss offshore technology with other leaders in this industry but also support our Newfoundland and Labrador delegation of 180 offshore service and supply sector companies who were there to market their products, skills and services.

At the conference again this year, our province received many accolades and praise about the work that is taking place right here in Newfoundland and Labrador, the quality of service from our companies, and the calibre and skills of our people who work in the offshore.

Companies from all over the world recognize that this is an exciting time to be doing business in Newfoundland and Labrador, especially in the offshore.

Mr. Speaker, we continue to make strategic investments in our offshore, to grow this industry, to build our prospects, because there are still many benefits lying under the ocean floor, waiting for us to harvest.

That is why our investment in our own provincially-owned energy company is so important. By establishing Nalcor we ensured that the returns from our energy sector are better now than they have ever been in our province’s history.

Through a $30 million investment in seismic work in Labrador, Nalcor was able to leverage $65 million from a renowned geoscience firm and we are getting every cent we invest back and more. Mr. Speaker, the results of this seismic work are incredibly interesting, incredibly exciting, and companies from all over the world are vying for access to this data.

This investment by our government shows our vision and plan for this province. This seismic data will mean billions of dollars for Newfoundland and Labrador and a secure future for our children.

Every oil project we have negotiated, we have generated more and more revenue and benefits for the people of Newfoundland and Labrador. We will continue to be steady and sure, do our research and make sure that all of our decisions on offshore activity provide the maximum benefits to the people of Newfoundland and Labrador.

Thank you, Mr. Speaker.

2013 05 13             1:45 p.m.