Drive for incentives off Newfoundland

摘要

OIL and gas players in Newfoundland and Labrador are pushing the federal government for an incentive programme they hope will salvage exploration and development projects off the Eastern Canadian province, many of which have been cancelled or delayed amid the Covid-19 pandemic. A proposal recently unveiled by the Newfoundland & Labrador Oil & Gas Industry Association (Noia) includes a multi-well exploration incentive with a graduated reimbursement of capital costs ranging from 30% to 70%.