Thank you, Mr. Speaker. The Norman Wells oil field resource revenues. Mr. Speaker, the Norman Wells oil field celebrated its century anniversary in 2021. Mr. Speaker, this legacy oil field is unique in many ways within the industry. The resource is of high quality, sweet, light crude, with low viscosity and low refining costs.
Mr. Speaker, another unique view or perspective is the ownership structure. The federal government retains or owns subsurface rights and, with a joint operating agreement with Imperial Oil, retains two-thirds.
Mr. Speaker, pursuant to the NWT Land and Resource Devolution Agreement, the Norman Wells proven area remains under federal jurisdiction. Mr. Speaker, the resource revenues are significant, over $2 billion over 40 years. This structure, Mr. Speaker, opens the doors for closure and reclamation opportunities. Mr. Speaker, my office authorized NORTRAN a training readiness plan for remediation and reclamation. Mr. Speaker, the Sahtu region is filled with remediation sites. And, Mr. Speaker, combining our efforts to address the trades workforce shortages through a design-build approach for a new trades training tech school in Norman Wells is not only innovative but realistic on approaching our federal counterparts to redirect resource revenues to the O and M of NORTRAN. Later, Mr. Speaker, I will have questions to the appropriate Minister. Mahsi.