1.1.9

Description: 
We will develop a long-term strategy to attract investment in oil and gas resources that will provide economic and energy benefits to NWT residents and businesses, while recognizing and protecting environmental, social, cultural and economic values.
Lead Dept: 
ITI
Priority: 
1.1
Status: 
Fulfilled
Restructured COC: 
Economy and Environment
Number: 
9
Deputy Minister Committee: 
Economy and Environment
Background Information: 

ECONOMY, ENVIRONMENT AND CLIMATE CHANGE

Commitment 1.1.9

We will develop a long-term strategy to attract investment in oil and gas resources that will provide economic and energy benefits to NWT residents and businesses, while recognizing and protecting environmental, social, cultural and economic values.

Economic Opportunities Strategy

The 2013 NWT Economic Opportunities Strategy recommended development of a strategy to encourage growth of the oil and gas industry to benefit NWT residents.

The Pathways to Petroleum Development Public Engagement Report was developed in the 17th Legislative Assembly and informed the development of the first draft of a Petroleum Resources Strategy.

The Government of the Northwest Territories (GNWT) has developed and released the NWT Petroleum Resources Strategy, including an Implementation Plan and a Monitoring and Evaluation Framework.

The NWT Petroleum Resources Strategy was released in tandem with the 2030 Energy Strategy and the Climate Change Strategic Framework (milestone 2).

Related Mandate Commitments:

  • Commitment 1.1.10 - We will ensure that residents have meaningful opportunities to participate in the assessment of potential benefits and risks associated with resource development, including hydraulic fracturing.
  • Commitment 1.1.11 - We will develop and foster the knowledge economy by:
    • Implementing the NWT Geological Survey Strategic Plan, including carrying out Slave Province geoscience studies, ensuring the availability of high quality geoscience knowledge to promote the successful exploration for and discovery of NWT mineral resources, and defining permafrost conditions that may impact future infrastructure development.
    • Implementing the Resources and Energy Development Information (REDI) initiative to increase public awareness and understanding of NWT renewable and non-renewable mineral and energy resources and the means by which they can be developed in a responsible and sustainable manner.
  • Commitment 1.3.2 - In order to advance the territorial vision of land resource management in accordance with the Land Use and Sustainability Framework, we will evolve our legislative, regulatory, and policy systems by:
    • Developing and proposing amendments to the Petroleum Resources Act
    • Developing and proposing amendments to the Oil and Gas Operations Act
  • Commitment 5.2.4 - We will pursue an agreement with the federal government on the management of offshore resources.