With much of the oil and gas exploration and production in Atlantic Canada taking place offshore, there are different challenges from a business and operational perspective. For this reason the Atlantic Canada region has been differentiated in the report, including some differences in key performance indicators.

Canada’s offshore oil and gas exploration and production is focused primarily in the oceans around Newfoundland and Labrador and Nova Scotia where large amounts of crude oil and natural gas lie in sedimentary basins beneath the ocean floor. Specifically, east of St. John’s in Newfoundland and Labrador are three offshore oil fields in production: Hibernia, Terra Nova, and Whiterose. Southeast of Halifax, off the shores of Nova Scotia, is the Sable gas field.

Developing these resources has resulted in thousands of new jobs for the region’s residents, growth in other businesses, new technologies and practices to reduce safety and environmental risk and increase access to the resources, and prosperity for generations to come. More than 4,450 skilled employees are now working in the Atlantic Canada oil and gas industry, which is further supported by 800 local service and supply companies. The federal and provincial governments work closely with industry leaders to ensure due diligence in operational and financial stewardship, and to invest in new infrastructure and technology
in anticipation of economic and population growth.

“Deepwater drilling is a new frontier area for Newfoundland and
Labrador. We are supportive of deep water drilling in our
offshore region as long as it is done in a responsible manner.”

Kathy Dunderdale, Premier of
Newfoundland and Labrador