July 7, 2017
The NWT Oil and Gas Annual Report 2016 is now available. While the slowdown in the global oil and gas sector continued in 2016, the GNWT is moving forward with a number of initiatives to improve the environment for responsible development of Northwest Territories petroleum resources.
The GNWT, in its 2016-19 mandate, committed to introducing a long term strategy to attract oil and gas development to the NWT. Additionally, a review of the Petroleum Resources Act and Oil and Gas Operations Act is included in the GNWT-wide commitment to evolve its legislative, regulatory and policy systems to advance the territorial vision of land and resource management post Devolution.
Meanwhile, work continued in 2016 by the Northwest Territories Geological Survey and the National Energy Board to define the full potential of the NWT’s untapped oil and gas resources.
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