Mr. Speaker, research is a key component of a strong future for any resource economy. ITI's new NWT geological survey division helps to fill this need and provides publicly available geoscience information that is used to stimulate mineral and petroleum exploration and investment, understand environmental change, assess mineral and petroleum resource potential, and assist in infrastructure projects and use decisions.
Current projects focus on topics such as diamond exploration in the Slave Geological Province, mineral potential of the Mackenzie Mountains, permafrost melting and associated landscape and water quality change. They also administer the Mining Incentive Program. The NWT Geological Survey Division also recently participated in unconventional petroleum resource assessment for the Canol and Bluefish Shale Oil Play and the Liard Sedimentary Basin. In the Canol/Bluefish Shell Play they identified the potential of 200 billion barrels of oil, and in the Liard Sedimentary Basin 137 trillion cubic feet of which 44 trillion would be in the Northwest Territories. These are both world-class oil and gas plays. These assessments are preliminary but indicate significant petroleum potential in both locations.