The following statement was given today in the House of Assembly by the Honourable Siobhan Coady, Minister of Natural Resources:

Mr. Speaker, this morning I had the privilege of giving the keynote speech at the 2019 Noia Oil & Gas Conference and Exhibition.

The theme of this year’s conference is ‘Realizing Our Potential;’ a theme that could not be more applicable to our oil and gas industry. Through investments in exploration, research and development, innovation, education and training and communities – our oil and gas industry is ‘harnessing its potential.’

Since we released Advance 2030, the development plan our government created in partnership with industry players, stakeholders have been working diligently to ensure key initiatives and priority areas are implemented. Mr. Speaker, today at the Noia conference I had the opportunity to present an update on progress with Advance 2030.

Mr. Speaker, more than 95 per cent of immediate priority actions in progress or complete. Our plan will continue to position Newfoundland and Labrador as an internationally preferred location for oil and gas exploration and development – driven by an innovative, sustainable, local industry that is globally competitive, environmentally responsible, and one that maximizes benefits to the people of the province.

The Oil and Gas Industry Development Council, with representation from the Provincial Government, Noia, the Canadian Association of Petroleum Producers and various industry representatives, has made a significant commitment to advancing our vision for the oil and gas industry in this province.

Mr. Speaker, our Advance 2030 implementation update shows significant progress on immediate priority actions and specific initiatives that have been undertaken by stakeholders over the first year of the strategy. Collaboration is a core principle of Advance 2030, and industry stakeholders are working together to realize the growth potential in our oil and gas industry.

Thank you.