The Northwest Territories (NWT) has vast undeveloped oil and gas reserves. It is estimated that the NWT could hold as much as 37 percent of Canada’s marketable light crude oil resources and 35 percent of its marketable natural gas resources.
The Department of Industry, Tourism and Investment (ITI) is responsible for the administration of onshore oil and gas interests in the Northwest Territories, including the Inuvialuit Settlement Region. Interests issued in the offshore are the responsibility of Aboriginal Affairs and Northern Development Canada.
ITI promotes economic self-sufficiency through the responsible management and development of NWT petroleum resources to create a prosperous, diverse and sustainable economy for the benefit of all NWT residents. ITI supports the use of recognized best practices and scientific evidence to protect the environment while responsibly developing natural resources to benefit NWT residents.
ITI is responsible for:
- Petroleum resources policy
- Petroleum resources exploration and development
- Intra-territorial pipeline regulation
- Benefit plans
The Petroleum Resources Division office develops and delivers policy, programs and services related to petroleum resources exploration and development and manages land tenure associated with petroleum development.