The provincial government is looking to spur offshore exploration even though global oil markets have collapsed.
Premier Dwight Ball says exploration is the key in being competitive on an international scale.
The province has what he calls tremendous reserves in the offshore, and if you are able to find it, it will provide economic benefits to Newfoundlanders and Labradorians.
Premier Ball says the oil offshore is less carbon-intense, and he believes it will be sought out moving forward.
Source: VOCM News | This text was excerpted from the media outlet cited on May 2, 2020 and is provided to Noia members for information purposes only. Any opinion expressed therein is neither attributable to nor endorsed by Noia.