By Jamie Barrie S t. John’s Premier, Dwight Ball set some “ ambitious but achievable” goals for the Newfoundland and Labrador government for growing its oil and gas sector with Advance 2030 which is a plan that was created by the province’s Oil and Gas Industry Development Council, which included consultations with oil and gas partners ranging frommunicipalities, labour groups, opera- tors and educational institutions to look at ways to grow the industry, providing government with 17 focus areas which include actions ranging from the short to long term. • Drilling more than 100 new exploration wells. • Tapping intomultiple basins to producemore than 650,000 barrels of oil per day from new and existing projects. • Doubling offshore oil production by reducing develop- ment time for projects. • Government and Industry creating and sustaining employ- ment of more than 7,500 people. • Government also is planning on looking at the possibility of creating a market for natural gas, much of which is cur- rently being pumped back or left where it is. • A robust and innovative global supply and service sector. Premier Ball also stated that the province is committed to both renewables and oil and gas as they look to develop a world-class energy sector for Newfoundland and Labrador. Some highlights of Advance 2030 Targets include:
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SPOTLIGHT ON BUSINESS MAGAZINE • FEBRUARY 2018
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