Promoting Canada’s New Energy Frontier

PREMIER’S OFFICE/PETROLEUM DIRECTORATE--Promoting Canada’s New Energy Frontier

Promoting increased investment in Nova Scotia’s growing offshore industry will be the main goal of Premier John Hamm and Petroleum Minister Gordon Balser when they travel to Texas next week.

Premier Hamm and Mr. Balser, along with Sackville-Cobequid MLA John Holm and Lunenburg West MLA Don Downe, are joining over 100 executives in Nova Scotia’s oil and gas industry attending the Offshore Technology Conference, Monday, April 30, through to Thursday, May 3, in Houston.

"It’s essential that Nova Scotia continues to highlight our growing importance in the North American energy market," said the premier. "Increased American demand for Nova Scotia’s natural gas means increased exploration and investment, which results in more jobs and benefits for the people of Nova Scotia."

Premier Hamm will be meeting with senior officials for several energy companies. In recent months, a number of companies have made new financial commitments to Nova Scotia’s petroleum sector, including PanCanadian’s announcement that is proceeding with its $1 billion Deep Panuke project. Overall, more than a dozen companies have committed themselves to spend over $1 billion exploring offshore Nova Scotia, with industry and government projections much higher during the next 10-15 years.

Petroleum Minister Balser noted that the growth in the province’s offshore has resulted in greater benefits for Nova Scotians. Sable Offshore Energy Inc. recently announced that the second phase of its project will be fully engineered and managed in Nova Scotia -- a first in Canada.

"Our energy sector is fast becoming one of the industries that will power Nova Scotia’s economy for years to come," added Minister Balser. "As a government, we will continue to deliver the message that our province is the place to invest and our people are ready, willing and able to work in this industry."