Northern Petroleum Resources
May 30, 2016: The Ministerial Special Representative’s report, Review of the Canada Petroleum Resources Act, was presented to the Minister of Indigenous and Northern Affairs.
May 5, 2016: The Northern Oil and Gas Annual Report 2015 was tabled in parliament.
Oil and gas exploration and development are key to Canada's economic well-being. One quarter of Canada's discovered resources of conventional petroleum are in the North and remain undeveloped, as about one third of the country's estimated potential.
Indigenous and Northern Affairs Canada works in partnership with Northern and Indigenous governments and peoples to:
- govern the allocation of Crown lands to the private sector for oil and gas exploration
- develop the regulatory environment
- set and collect royalties
- approve benefit plans before development takes place in a given area
Benefit plans define oil and gas operators' policies and activities to maximize employment and training prospects for Northerners. The plans also ensure that northern businesses have opportunities to supply goods and services on a competitive basis.
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