Economic Benefits from Onshore Petroleum Activity
Onshore Nova Scotia is a frontier area for exploration, but we have great potential.
We know that more onshore activity means more infrastructure, more jobs and more prosperity for the province.
Onshore oil and gas exploration and development has potential significant economic benefits to the province.
These benefits accrue is several ways; from jobs created to expenditures for goods and services in local communities and across the province.
The revenues generated have both direct and indirect effects on household incomes and the local economy.
Onshore companies working in Nova Scotia follow our legislation and use local goods and services wherever they can.
Revenues generated from onshore companies like these often come from a diverse range of services - from surveyors and engineers to restaurants and hotels.
Examples of these expenditures include:
Alberta based, Stealth Ventures Ltd. which spent $15 million on coalbed methane exploration in the Springhill area.
Elmworth Energy Ltd. spent $30 million exploring for shale gas in the Kennetcook area with approximately half going directly to local goods and services.
We are still in early days, but once we have commercial production in Nova Scotia, local goods and services use will only increase, and the communities and the province of Nova Scotia can all benefit.
Many Nova Scotia companies seeking business opportunities from onshore petroleum activity choose to join the Maritimes Energy Association formerly known as OTANS.
Maritimes Energy Association (MEA) undertakes a number of activities to promote the capabilities of its members to service the oil and gas industry.