Conference will include updates from Husky Energy, Statoil, Nalcor, Suncor
Premier Kathy Dunderdale kicked off this week's Newfoundland and Labrador Oil and Gas Industries Association (Noia) oil and gas conference with a call for oil and gas exploration.
The week's conference is the cornerstone event of the province's oil and gas industry, and features updates from the major offshore oil companies, and discussions on exploration, safety and other industry issues.
Speaking to the room, packed with oil and gas industry people, Dunderdale celebrated the growth of the offshore industry in the past few years.
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"We are experiencing a great momentum right now in Newfoundland and Labrador's oil and gas industry," she said. "We have hit our stride."
At the same time, she stressed that the province's success has been "hard fought" both by the government and by people in the industry.
But she also said the industry is past peak oil on existing fields, and more exploration is needed.
"We need new fields," she said "We need to be attractive."
Dunderdale said this is why the government, through Nalcor, has spent money on seismic testing and exploration data.
By doing this, Dunderdale said the government can minimize risk for oil companies, and attracting players to the province.