NL Industry Overview
Oil and gas – contributing to a strong local economy.
The oil and gas industry in Newfoundland and Labrador has made significant contributions to the provincial economy. And it has the potential to sustain activity for decades to come. For more details on its provincial economic impact, click here.
Offshore operations are thriving.
There are three offshore oil projects currently in operation:
Hibernia – 1.24 billion barrels discovered
Terra Nova – 419 million barrels discovered
White Rose – 283 million barrels discovered
A fourth project, Hebron, is expected to begin production by 2017 and is estimated to contain 400-700 million barrels of recoverable oil.
Onshore operations are getting more attention.
Onshore petroleum exploration is concentrated on the west coast of the island, around the Port au Port Peninsula, Deer Lake and Parson’s Pond. With small oil discoveries and new interpretations of the geology in the area, the region is attracting attention within the industry.
The environment is being protected and sustained.
It is the responsibility of the oil and gas industry to safeguard the people, marine life and ecosystems in and around operations. Oil spills are of primary concern and there are many regulations and measures in place to guard against them.
Education and training of workers, close monitoring of operating conditions, and regular equipment maintenance are just a few of the measures followed. The primary focus is on prevention so environmental incidents do not occur in the first place.
For more information on how the industry is working to prevent spills and how they would respond should one occur, view the Spill Prevention & Response leaflet on the website of the Canadian Association of Petroleum Producers (CAPP) website.
CAPP’s website also provides examples of industry initiatives in environmental research and sustainability.
Safety is the top priority.
Operators adhere to strict health and safety requirements from the Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB). Companies are required to have a comprehensive health and safety plan before any offshore activity is approved. These plans must be implemented and kept up-to-date.
Regular plan audits and workplace inspections are conducted by the companies and by the C-NLOPB. If worker health or safety is considered at risk, the C-NLOPB will take action, including stopping the company’s activity.
