St. John’s--June 18, 2009 – NOIA’s 25th annual international petroleum conference continued on Wednesday, June 17th with updates from regional operators and insight on challenges and opportunities for East Coast Canada companies to the north. Over 900 delegates are registered for this year’s event, revolving around the theme, Arctic Challenges – East Coast Solutions.

Provincial Natural Resources Minister Kathy Dunderdale provided opening remarks, highlighting the upcoming refurbishment of the GSF Grand Banks mobile offshore drilling unit at Bull Arm by NOIA member Pennecon Energy. The three-month retrofit will employ 300 trades people between July and October.

Trevor Pritchard of Husky Energy then provided an overview of Husky’s work in the region, including details of the North Amethyst satellite tieback which will come into production later this year or early in 2010. Alan Brown of Petro-Canada outlined this year’s maintenance and development drilling schedule for Terra Nova and said the company will also drill in the Jeanne d’Arc Basin this year when it drills the Ballicatters well, targeting dual targets in EL 1092 and EL 1093.

The morning continued with a presentation from Denis Marcoux of Repsol Exploracion, a newcomer to the Newfoundland & Labrador offshore. Mr. Marcoux provided an overview of the company and its interest in our region. Michael Watts of Cairn Energy also introduced delegates to his company and explained Cairn’s exploration efforts and plans in Greenland. Mr. Watts pointed out Newfoundland & Labrador’s advantages in servicing future Arctic projects, noting that the company is already working with St. John’s-based C-CORE in the area of ice management. The morning concluded with an overview of Western Newfoundland activity by Wes Foot of the provincial Department of Natural Resources.

Dr. Michael Economides, a chemical and petroleum engineer and expert on energy geopolitics, gave an informative keynote luncheon address on where oil and gas markets are headed and how energy geopolitics will shape the future.

Session 3 featured four presentations on the theme Farther, Deeper, Colder. Mark MacLeod of Chevron Canada discussed Chevron’s growth strategy for Atlantic Canada, managed out of St. John’s, including plans for expansion of the local office and a possible deep water exploration well in the Orphan Basin as early as 2010. The final three presenters of the day turned their attention even further afield with discussions from Mark Shrimpton of Stantec and Gregors Dam of Dong Energy on potential oil and gas play in Greenland and opportunities for our region. Jacob Verhoef of Natural Resources Canada rounded out the day with a thorough discussion of the United Nations Convention on the Law of the Sea (UNCLOS) program which is working to define the outer limits of Canada’s Continental Shelf in the Atlantic and Arctic Oceans.  Dr. Verhoef pointed to the cooperation among the international community despite media controversy surrounding some countries claims on the area.

NOIA’s conference concludes today with four presentations and a panel discussion on Challenges & Opportunities in Uncertain Times. The closing luncheon will feature David Collyer, President of the Canadian Association of Petroleum Producers who will provide an outlook for Canada’s oil and gas sector.

-30-

For additional information please contact:
Deborah Inkpen
Director, Communications & Policy, NOIA
Tel: 709-758-6617/Cell: 709-691-2208
deborah.inkpen@noianet.com

Allison Billard
Communications Coordinator, NOIA
Tel: 709-758-6619
abillard@noianet.com