Thank you, Mr.
Speaker. Last
Friday the Department of Indian and Northern Affairs announced exploration leases totalling over $1 billion and covering nearly 850,000 hectares of the Beaufort seabed. British Petroleum paid $1.18 billion for a 380-hectare parcel, which surpassed last year’s record payment of $585 million on exploration leases. The two other leases, totalling $4.3 million, went to MGM Energy Corp. and ConocoPhillips Canada Resources Corp.
Needless to say, Mr. Speaker, we are excited in the Beaufort-Delta, as these leases require work commitments totalling $300 million. This means economic opportunities for the businesses in the communities of Tuktoyaktuk and Inuvik and employment opportunities for residents.
It’s good for the people of Tuk to see more opportunities for the community. We were a bit in an exploration slump for a while due to uncertainty over the construction of the Mackenzie Gas Project. The slump is over.
I want to urge all successful bidders to work with the people and the businesses of the Beaufort-Delta and the community of Tuktoyaktuk to ensure maximum benefit to the region.