St. John’s NL (February 4, 2015) – The Newfoundland and Labrador Oil & Gas Industries Association (Noia) membership elected its 2015 Board of Directors today at the association’s Annual General Meeting. The Board of Directors is the governing body and provides strategic direction for the largest oil & gas industry association in Canada.
Noia’s membership heard from keynote luncheon speaker, Patricia Mohr, Vice-President, Economics & Commodity Market Specialist with Scotiabank who discussed how the current price of oil will impact the global economy in her presentation Changing Oil Market Dynamics – Saudi Arabia Triggers Lower Oil Prices to Slow U.S. Shale Development.
Noia’s 2015 Board Chair, Sean Power, also addressed the more than 225 attendees, acknowledging the challenges of the current downturn in oil prices, while emphasizing the collective responsibility of the industry to develop the province’s oil & gas resources with a long-term, sustainable view.
“There is no question that current oil prices are challenging all of us across this industry – supply and service companies, operators and governments alike,” said Mr. Power. “Yet, even in the current environment, there is continued optimism about our prospectivity and, make no mistake, Newfoundland and Labrador’s future in oil & gas remains strong.”
Presentations throughout the AGM highlighted significant industry achievements from the past year that have strengthened Newfoundland and Labrador’s position in the global oil & gas industry. This included the acquisition of 30,000 kilometres of 2D seismic data by Nalcor and their partners TGS and PGS, a record land bid of $559 million for a single parcel of land, and the continued exploration, production and development investments being made by global companies in the province’s offshore.
“These and other game-changing events of recent years, such as implementation of the scheduled land tenure system and changes to the Coasting Trade Act, have renewed the perspective for Newfoundland and Labrador’s future in oil & gas,” added Mr. Power. “We may very well be where Norway was in the early 1970s. Taking a long-term view and strategic approach to grow our skills, expertise and technologies even further, as Norway did, will ensure we build our industry into a lasting legacy for Newfoundland and Labrador.”
Sean Power assumed the Board Chair position at the Annual General Meeting, taking over from John Henley, who moved into the Past-Chair role. Raymond Collins of PF Collins International Trade Solutions was acclaimed to the Vice-Chair position.
Additionally, Noia members elected five new directors:
- Bill Fanning
- Craig Ralph
- Torfi Thorarinson
- Anne Whelan
- Stephen Young
Upon conclusion of the election, the 2015 Noia Board of Directors includes:
- Sean Power, DF Barnes, Chair
- Raymond Collins, PF Collins International Trade Solutions, Vice-Chair
- Bruce Grant, Stewart McKelvey, Treasurer
- John Henley, Cahill Group of Companies, Past-Chair
- Andrew Bell, K&D Pratt Group, Director
- David Christmas, Schlumberger, Director
- Bill Fanning, Kvaerner Canada, Director
- Liam O’Shea, Atlantic Offshore Medical Services, Director
- Craig Ralph, ABM, Director
- Torfi Thorarinson, Technip Canada, Director
- Anne Whelan, Brenkir Industrial Supply, Director
- Stephen Young, Subsea 7 Canada, Director
“I extend my sincere appreciation to our outgoing board members for their valuable contributions to our organization and welcome our newly elected members to the Board,” concluded Mr. Power. “I am confident, with the collaboration of our industry stakeholders, we will lead Noia forward and help create an industry with a lasting foothold that benefits Newfoundlanders and Labradorians, and other Canadians, for generations to come.”