HALIFAX - An agreement signed today signals a new approach and new opportunities for Nova Scotia's offshore industry. Together, eight departments and agencies of the Government of Canada and Nova Scotia announced the creation of a more coordinated and integrated regulatory approval and environmental process for offshore petroleum development projects in the province. "The Government of Canada is committed to working with the province and with stakeholders to ensure a vibrant and prosperous future for offshore Nova Scotia," said the Honourable R. John Efford, Minister of Natural Resources Canada. "This agreement establishes a clear process that supports our common goal of building an oil and gas industry that is economically viable, internationally competitive and environmentally sustainable." The agreement was developed through the Atlantic Energy Roundtable and is intended to improve cooperation among all parties involved in the review and approval of large-scale offshore oil and gas development projects. Building on the principles of smart regulation - a Government of Canada initiative to ensure that regulations are fairer, more efficient and more effective - and the recent amendments to the Canadian Environmental Assessment Act, the agreement ensures that regulatory reviews proceed concurrently rather than sequentially. This is expected to result in important time savings and efficiencies without compromising public interest objectives. "What we have accomplished with this agreement is critical to the evolution of this industry," said the Honourable Cecil P. Clarke, Nova Scotia Minister of Energy. "We are working toward the vision of a growing Nova Scotia offshore industry that contributes significantly to the economic and social well-being of the region." "This represents a significant milestone for the improvement of regulatory processes for the Nova Scotia oil and gas industry," said the Honourable Geoff Regan, Minister of Fisheries and Oceans. "We have here a strong and effective federal-provincial-industry relationship that will improve coordination, eliminate duplication and help reduce the time required to review projects, while ensuring that the marine environment is protected." The Atlantic Energy Roundtable began work on the agreement in January 2004 after extensive feedback from interested stakeholders. A public consultation process was undertaken in May 2004 before the agreement was finalized. The Atlantic Energy Roundtable was formed in 2002 as a forum for government, regulators, suppliers and operators to discuss issues and opportunities in the offshore oil and gas industry. One of its principal goals is to address regulatory efficiency in a way that supports the public good and enhances the climate for investment. The Roundtable will have its third meeting on February 19, 2005. This initiative enhances our quality of life by supporting our natural resources sectors, which are a vital part of Canada's economy and society. It also supports the Government of Canada's commitment to building on the strength of our country and our people. FOR BROADCAST USE: Nova Scotia's oil and gas industry will soon be served by a more efficient review and approval process. The governments of Canada and Nova Scotia signed an agreement today in Halifax to better coordinate the process for offshore projects in the province. For more information, media may contact: Ghyslain Charron Media Relations Natural Resources Canada (613) 992-4447 Tom Ormsby Director of Communications Office of the Minister Natural Resources Canada (613) 996-2007 John Perkins Nova Scotia Department of Energy Halifax (902) 424-1757 perkinsje@gov.ns.ca
