NL Offshore Oil and Gas Industry Recovery Assistance Fund
Environment, Energy and Natural Resources
Deadlines
Academic Unit: Inquire with your unit
Memorial Deadline: Monday 8th, March 2021
External Deadline: Thursday 11th, March 2021
Description
The Department of Industry, Energy and Technology (IET) is the lead for innovation, economic development and diversification in Newfoundland and Labrador. The department focuses on creating a competitive environment to support private sector investment and business growth; and supporting industries in Newfoundland and Labrador such as mining, energy and technology.
The oil and gas sector is critical to the Newfoundland and Labrador economy. During the last year, the COVID-19 pandemic and the global crash of oil prices has dealt a major blow to the Provincial oil and gas industry including the local supply and service sector.
On September 25, 2020, the Province signed an agreement with the Government of Canada for $320 million in federal funding. The goals of the NL Offshore Oil and Gas Industry Recovery Assistance Fund are to maximize employment for Newfoundland and Labrador residents and support the recovery of the Newfoundland and Labrador offshore oil and gas industry.
To support the identified need and provide direct assistance for the local oil and gas sector value chain, Government has committed a total of $32 million to support oil and gas supply and service sector projects. IET is now requesting applications through an NL Offshore Oil and Gas Industry Recovery Assistance Fund Call for Proposals.
Additional information can be found here.