Celebrating B.C.’S Natural Gas & Petroleum Success

Oct 24, 2010 - 15 years ago

B.C. is celebrating Oil and Gas Week, in recognition of the important contributions the natural gas and petroleum sector makes to the economy, local communities and families throughout the province, announced Bill Bennett, Minister of Energy, Mines and Petroleum Resources.

“B.C.’s natural gas and petroleum sector is booming; it has become our biggest resource revenue earner, with huge investor confidence and great-paying jobs,” said Bennett. “It’s generally understood by those in the Northeast the significance of this resource, but it is important that all British Columbians understand that these resources help fund the critical government services we depend on each and every day.”

The natural gas and petroleum sector is a major economic engine for B.C. Industry is thriving thanks to innovative royalty programs, modernized regulations and growing interest in the province’s resource potential. The sector generated $1.35 billion in fiscal 2009/10 alone, accounting for over 50 per cent of B.C.’s total resource revenue.

“The world has taken notice and is discovering the opportunities available in British Columbia,” added Bennett. “B.C. is seen as a leader in the development of unconventional resources. This is where companies, local and international, want to invest and create business; where jobs and secure, long-term futures are being created.”