The Newfoundland and Labrador government launched a new plan on Monday for growing its oil and gas sector.
Highlights of Advance 2030 include doubling offshore oil production by 2030 through reducing development time for projects.
Targets for the plan include drilling more than 100 new exploration wells, and tapping into multiple basins to produce more than 650,000 barrels of oil per day from new and existing projects, as well as commercial natural gas production.
Last month, the province’s Oil and Gas Industry Development Council started looking at ways to grow the industry, providing government with 17 focus areas which include actions ranging from the short to long term.
At Monday’s announcement at The Rooms in St. John’s, Premier Dwight Ball called the plan “ambitious but achievable.”
Here are some of the targets the province has set for oil and gas #nlpoli pic.twitter.com/5sfQnNYqyp
— @PeterCBC