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Commodity Pricing

Noia Reacts to Offshore Oil & Gas Announcement by Government of Canada

(St. John’s – September 25, 2020) Please find below statements from Noia Board Chair Karen Winsor and CEO Charlene Johnson regarding support for the offshore oil and gas industry announced today by Seamus O’Regan, Minister of Natural Resources Canada.

“The announcement today of funding provided by the Government of Canada to support the offshore oil and gas industry is a good starting point. When combined with the announcement yesterday by Premier Furey, the recent approval of a regional assessment for the offshore, and measures such as an accelerated write down, our offshore is better positioned to be globally competitive. Today is a signal of support and we must continue to work on the immediate challenges facing our offshore, help get people back to work, and support an internationally competitive supply and service sector.” — Karen Winsor, Chair, Noia Board of Directors

“Although it has taken us a great deal of time to get to today, we welcome the support of the Government of Canada and this investment in our offshore. Our focus must now shift to working with the provincial government on how best to leverage this support into initiatives that will enhance our industry as much work remains for us to maximize the potential of our world-leading resources. To achieve this, and to make progress on other important issues that can get people back to work and provide tremendous benefits to our province and country, Noia looks forward to working collaboratively with government, industry and impacted stakeholders. This has been a positive week, though the work has only just begun and we must continue to focus on further fiscal and regulatory changes which can advance our offshore oil and gas industry.” — Charlene Johnson, CEO, Noia

The Newfoundland and Labrador Oil & Gas Industries Association (Noia) was founded in 1977 to represent the supply and service sector of the offshore oil and gas industry. Today, Noia represents almost 500 member organizations worldwide which are involved in, or benefit from, the oil and gas industry of Newfoundland and Labrador. Noia members are a diverse representation of businesses that range from offshore supply boats and helicopters, health and safety equipment and training, engineering solutions and fabricators to law firms and personnel agencies.