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Commodity Pricing

Oil & Gas Development Must be a By-Election Issue

St. John’s, NL – The Newfoundland and Labrador Oil & Gas Industries Association (Noia) is calling on all candidates in the upcoming Bonavista-Burin-Trinity by-election to fully understand the importance of the offshore oil & gas industry to the economic future of the area and for voters to know where all candidates stand on industry-related issues before marking their ballots on December 11.

“The offshore oil & gas industry has been a significant economic contributor to the area since Hibernia construction in the 1990s,” said Andrew Bell, Chair of Noia’s Board of Directors. “And more recently, during its six years of construction at Bull Arm, the Hebron oil production platform created thousands of well-paid construction jobs, with 3,700 individuals working on the project as of late 2016. Similarly, the Kiewit Cow Head Fabrication Facility in Marystown was a major employer through Hibernia, topsides work for White Rose, the Hebron DSM as well as rig modification repair. People from all over the province were employed at these sites, occupying nearly every available rental property and boosting local businesses. However, with the completion of Hebron, recent layoffs at the Come by Chance Refinery and uncertainty in the fishing industry, timely development of the offshore industry is critical, now more than ever, to the economic future of the area.”

While not impacting current production, there are many regulatory hurdles impeding future development and growth of the industry – one of the most time sensitive being the federal government’s proposed changes to the environmental assessment process.

“With the federal government making these critical environmental assessment decisions now, the very future of the industry – and this region in particular – is at stake,” added Mr. Bell. “Oil & gas development is crucial to the survival of the area. And unless we see federal government support, we are very concerned that the Husky wellhead platform living quarters will be the last offshore module constructed there. Today we are asking candidates to share their views on the industry and we are asking voters to ensure the individual they support will in turn support the interests of the region in Ottawa.”