N.S. Prepared to Play Role in N.A. Energy Strategy
PREMIER’S OFFICE--N.S. Prepared to Play Role in N.A. Energy Strategy
At a news conference today in Houston, Premier John Hamm told reporters Nova Scotia should be considered part of the solution in drawing up a new North American energy strategy.
Exploration spending in Nova Scotia is set to rise dramatically, said Premier Hamm. This rise in exploration should lead to new discoveries and increased production. That means Nova Scotia is poised to deliver increased natural-gas supplies to the northeast part of the continent by the middle of the decade.”
More than $1.03 billion Cdn is currently committed for exploration in offshore Nova Scotia. Government forecasts suggest more than 40 exploration wells will be drilled over the next four years.
Speaking at the Houston Offshore Technologies Conference and Tradeshow, the premier said, “We look forward to developing our strengths and playing a part in this global energy industry. With new discoveries, Nova Scotia will be in a position to meet new demands in our province as well as accelerate development of our offshore industries through exports. Premier Hamm also delivered the same message at a luncheon of the Houston World Affairs Council.
Much of the increased exploration effort will be directed to the deep-water blocks beyond the edge of the Scotian Shelf. Marathon is working toward drilling the first modern deep-water well offshore Nova Scotia later this year. PanCanadian Petroleum recently announced it was forming a joint venture partnership with Ocean Rigs of Norway using the semi-submersible rig Eirik Raude. The rig is expected to go into operation in the first quarter of 2002.
In addition, PanCanadian has announced plans for three shallow wells in its exploration blocks near Sable Island this year. Shell is also examining the possibility of drilling a well near Sable Island this fall.
Details of onshore and offshore industry activity are available in new Activity Updates by following links at: www.gov.ns.ca/petro/nsoilgasnews/index.asp or by contacting: Bruce Cameron of the Nova Scotia Petroleum Directorate at 902 499-8849.
Copies of the premier’s speech are available at www.gov.ns.ca/prem/speeches/spchlist.htm.