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Friday, August 26, 2016

August 26, 2016

 

For Immediate Release

 

 

 

2007 Energy Plan Continuing to Drive Offshore Activity Through Marketing of Seismic Data, Driving Oil Exploration;

 

Liberals Were Wrong to Attack Nalcor For Marketing

 

 

 

Keith Hutchings, Natural Resources Critic for the Official Opposition, said, “It is good news that Nalcor and the provincial government have continued on the path to collect and market offshore seismic data in order to drive oil exploration. Liberals in the past have criticized the plan to market our province’s energy, and it is positive that they have recognized the value of the Energy Plan and the benefits for the province.”

 

 

 

Nalcor has released its latest annual independent assessment of the province’s offshore oil and gas resources. The assessment shows great oil potential in the West Orphan Basin. Nalcor is marketing the latest data to the oil industry around the world to encourage companies to do exploration and development off our coast. Hutchings said, “We recognized all along that this was the purpose of doing the seismic work and driving our industry for decades to come.”

 

 

 

But while in opposition the Liberals questioned Nalcor’s spending on energy marketing. In the House of Assembly on May 11, 2015, Liberal leader Dwight Ball asked: “Why are you satisfied to let Nalcor spend the equivalent of twelve government departments on advertising?”

 

 

 

As the PC Natural Resources Minister responded at the time: “[Nalcor] have six lines of business which include Churchill Falls, Muskrat Falls, Hydro, energy marketing, Bull Arm, and oil and gas. They are all over the world. They are making significant investments on behalf of the people of the province. It is important that they are out there and they are engaged and they are selling and promoting Newfoundland and Labrador and the resources that we have so we can get maximum return on the people’s investment, as well as laying the groundwork for a bright future for Newfoundland and Labrador.”

 

 

 

Hutchings said, “The Energy Plan was established to maximize benefits for Newfoundland and Labrador, and we are pleased that Nalcor is continuing the energy policy framework established and commissioned by the PC government, undertaking proactive resource assessments and marketing that data in order to drive and speed up exploration. This path has reaped huge dividends for the people of our province and stimulated world interest in the resources we have to offer. The Liberals questioned Nalcor’s marketing efforts when in opposition, but the path we chose has proven to be the right one. We are indeed pleased to see them today speak to the validation and support of our efforts in building a solid foundation for growth in our offshore oil and gas industry.”

 

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Media Contact: Heather MacLean, Director of Communications, Office of the Official Opposition

 

(709) 729 6105, heathermaclean@gov.nl.ca

 

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