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Tuesday May 12 2015 9 INDUSTRY OIL GAS Speak to an Agent today Phone 867-874-2101 Fax 867-874-3386 CONGRATULATIONS AURORA GRADUATES Insurance Specialist 62 Woodland Dr. 105 Hay River NT X0E 1G1 Insurance Specialist 62 Woodland Dr. 105 Hay River NT X0E 1G1NWT Mtis Nation KWAYASK KITOTEN YOU DID IT Miyo Atoskewin Aurora Graduates Good Work Aurora Graduates P 867 872-2643 F 867 872-5225 NWT Mtis Nation NWT Cree Language Program By MEAGAN WOHLBERG Global oil prices may be down but that isnt stopping the NWT from encouraging compa- nies to invest in infrastructure now to prepare for the eventual market rebound. IndustryTourismandInvestmentITIMin- ister David Ramsay was in Houston Texas last week to pitch the territorys resources to at- tendeesoftheOffshoreTechnologyConference. Thoughadmittingthecostofdoingbusiness intheNorthisaboutashighastheresourcepo- tential he said decades down the line the ter- ritorywillbepoisedtobecometheworldsnext stable energy source. The world is looking for a reliable supply of energy resources to meet a growing demand. TheArcticoffersoneofthebestnewandstable sources of energy on the planet Ramsay said noting that partnerships with Alberta and B.C. will be key to opening up the territory. TheNorthwestTerritoriesisthekeytoopen- ingwesternCanadatointernationaloilandgas investorsexplorersandproducers.Weofferthe next economic frontier and the foundation of soundeconomicexpansioninvestmentattrac- tionjobcreationandfutureprosperityhesaid. In his speech to delegates Ramsay spoke of the massive potential of the NWTs oil and gas reservesbothonandoffshoreforfutureenergy needsinNorthAmericaandtherestoftheworld. Based on geological analysis by both the U.S. Geological Survey and our own advisors the Arctic waters off the Northwest Territories The next economic frontier Minister promotes NWT offshore oil in Texas havetheoilpotentialtorivaltheGulfofMexico Ramsay boasted. The Amauligak eld just off ofournorthernshorelineisthoughttocontain up to 250 million barrels of oil. Accordingtoa2009reporttheestimateddis- coveredmarketableoilandgasisbetweennine He said the NWT is open for business. We offer a gateway to the Arctic Ocean Ramsay said. We are ready to talk to socially and environmentally responsible companies thatwanttoworkandinvestwithustodevelop our resources build our economy unlock our potential and bring our resources to hungry markets around the world. and 10.4 trillion cubic feet evenly distributed betweentheMackenzieDeltaandBeaufortSea. Currently 10 companies hold over 3 million hectaresinleasesintheBeaufortSeaalongwith numerousdeclaredsignicantdiscoveryareas. ThoughtheGNWTattainedpowersovermost onshore oil and gas in the NWT the National Energy Board continues to regulate offshore. Ramsaysaidaccesswillincreaseastheterri- tory works on developing its combined energy communications and transportation corridor along the Mackenzie Valley. That includes the proposed Mackenzie bre-optic link highway and pipeline projects. MapcourtesyofAANDC Ten companies hold over 3 million hectares in oil and gas leases in the Beaufort Sea along with numerous declared signicant discovery areas. TheNorthwestTerritories is the key to opening western Canada to international oil andgasinvestorsexplorers and producers. ITI Minister David Ramsay