Research facilitation and management for Newfoundland and Labradorís offshore industry
Lead PI: Dr. Wade Locke
Subject Category: Other
Start Date: Oct 2002
End Date: Nov 2003
Institution / Organization: Dalhousie University
The level of industrial benefits that can reasonably be captured in an area is a concern that must be addressed to ensure that economic opportunities available to individual regions are optimized. This research project led by Dr. Wade Locke and Strategic Concepts Inc. provided a comprehensive assessment of capture rates in other offshore oil and gas producing regions while assessing lessons learned for Atlantic Canada.
The study reports on project-specific capture rates for Atlantic Canadian projects and evaluates the approach used currently to calculate capture rates within Atlantic Canada. A brief analysis of the strengths and weaknesses of the current methodology was made to determine if additional regulatory measures were needed and other alternatives that have been suggested.
As well, the study provides insight into the fact that oil and gas benefit capture needs to be considered in the context of local capacity and will help provide the general public and various levels of government with an appreciation that what is reasonable for one project may be totally different for another because of technology, location or other factors. This provided an understanding of why projects are different by phase of development, mode of development, how they change over time and how they are affected by the economic structure of the region.