The Honourable Dwight Ball, Premier of Newfoundland and Labrador, and the Honourable Siobhan Coady, Minister of Natural Resources, were joined by members of the Oil and Gas Industry Development Council today to release Advance 2030.
As part of The Way Forward, the Provincial Government committed to work with industry to position the province globally as a preferred location for oil and gas development. As part of that commitment, an Oil and Gas Industry Development Council was established to create a long-term vision for the province’s oil and gas industry, with a focus on promoting development, competitiveness and sustainability.
In January 2017, the council began to discuss opportunities and actions required to grow the oil and gas industry, with a vision that is driven by an innovative, sustainable, local industry that is globally competitive, environmentally responsible, and maximizes benefits to the people of the province. Advance 2030 is the outcome of that work.
Government has accepted the 17 focus areas recommended by the council, which include areas of immediate, mid-term and long-term actions.
By working collaboratively, by 2030 the Provincial Government envisions:
- Over 100 new exploration wells drilled;
- Multiple basins producing over 650,000 barrels of oil equivalent per day;
- Shortened time from prospectivity to production;
- Direct employment of more than 7,500 people in operations;
- A robust, innovative global supply and service sector;
- Commercial gas production; and
- Renewables and oil and gas integrated in a world-class energy cluster.
Advance 2030 is available online at www.nr.gov.nl.ca/nr/advance30 and is an initiative of The Way Forward – A Vision for Sustainability and Growth in Newfoundland and Labrador.
“Our government is committed to working collaboratively to ensure responsible development of our oil and gas industry. The time is now to action Advance 2030 to grow the industry for the benefit of Newfoundlanders and Labradorians.”
Honourable Dwight Ball
Premier of Newfoundland and Labrador
“Newfoundland and Labrador has tremendous opportunity in offshore oil and gas. By focusing on our competitiveness, driving exploration, ensuring innovation and working together we will achieve the vision we all want of a thriving, growing oil and gas industry.”
Honourable Siobhan Coady
Minister of Natural Resources
– 30 –
Oil and Gas Symposium Web Page – www.nr.gov.nl.ca/nr/advance30
The Way Forward – thewayforward.gov.nl.ca/
Oil and Gas Industry Development Council Appointments Announced – gov.nl.ca/releases/2016/nr/1221n01.aspx