St. John’s, NL (November 19, 2015) – Today, the Newfoundland and Labrador Oil & Gas Industries Association (Noia), released its vision for the province’s oil & gas industry – Redefining Oil. Sean Power, Chair of Noia’s Board of Directors, today unveiled this forward-thinking plan designed to ensure that the oil & gas industry leaves a lasting impact on the province’s local business community, for the benefit of all Newfoundlanders and Labradorians.
“Noia believes that by making the right decisions and moving collectively toward a shared vision, we can create an industry that is stronger, more competitive, more sustainable and one that maximizes the benefits of our provincial resources and our global participation” said Mr. Power. “If we focus strategically on melding what the industry needs, build on our proven strengths, and identify opportunities for new expertise, we can truly redefine oil for Newfoundland and Labrador and develop a local industry that exports globally, offers high labour productivity, is a source of intellectual properties and is known for its efficiencies.”
Noia’s Redefining Oil strategy calls for a renewed, collaborative partnership between industry and government that will:
- Change the way we develop the vision and strategy and then set it into motion through the establishment of an Industry Council to formulate the vision and strategy and an Industry Development Agency for implementation, monitoring and feedback;
- Change the way we approach supplier development;
- Enhance local expertise and skills;
- Realign project agreement so they focus on the long term, and
- Fully realize the Atlantic Accord’s economic growth and development purpose.
Details on each is contained in the following backgrounder.
“Redefining Oil is a vision for industry-wide collaboration focused on building more competitive local expertise, creating a more secure and predictable investment environment and generating lasting economic impacts for our province,” said Robert Cadigan, Noia President and CEO. “Moving forward in this renewed direction will support better planning and reduced risk and uncertainty for both the operator and supply communities and greatly contribute to the industrial capability and strength of Newfoundland and Labrador.”
Redefining Oil represents more than two years of research and consultation. During this time, Noia conducted 16 extensive jurisdictional reviews and consulted with its members, industry and other stakeholders in order to fully understand their thoughts on the challenges that exist for them and how they could be addressed; identify areas for improvement in negotiated benefits agreements and the Atlantic Accord; and clarify Noia’s role in strengthening the provincial industry.
For further information on Redefining Oil, visit www.noia.ca
For more information, contact:
Jennifer Collingwood, Senior Director of Communications, Noia
Tel: 709-758-6617 | Cell: 709-691-2208 | [email protected]