Independent Resource Assessments reveal oil and gas potential offshore Newfoundland and Labrador continues to grow September 27, 2022: Newfoundland and Labrador’s 2022 Independent Oil and Gas Resource Assessments released today…
Newfoundland and Labrador’s offshore spans 1.8 million square kilometres with our oil reserves emerging as some of the most carbon competitive in the world.
To enhance our province’s oil and gas potential, the Government of Newfoundland and Labrador established the Oil and Gas Corporation of Newfoundland and Labrador (OilCo) from our legacy company Nalcor Energy-Oil and Gas.
OilCo leads offshore oil and gas activities in our province and is responsible for all exploration pursuits, management of existing offshore assets, along with future investment in offshore developments.
Our team of explorers is driven by their passion for their profession but just as equally by their passion for our province.