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November 13, 2013
WHITEHORSE—A report by exploration company Northern Cross Yukon shows the oil and gas industry in the territory is delivering clear benefits to local Yukon businesses and First Nations.
The report, Benefits to Yukon Summary, identifies areas of direct value to Yukon citizens and businesses with more than $80 million invested by the company during the reporting period of which $16 million was spent in Yukon at the company’s Eagle Plains project.
“The employment, skills, and business opportunities Northern Cross Yukon is contributing to our economy clearly shows resource development and community cooperation is a win-win for all involved,” Minister of Energy, Mines and Resources Scott Kent said. “It also shows that the government is on the right track in continuing to work with and promote an industry that we believe is important to the future prosperity of all Yukoners.”
The report states that the benefits from the project are wide ranging, from direct employment, to camp construction, catering, access road construction, well-site construction and operation, wildlife monitoring, communication, logistics and fuel supply. In total, 87 Yukon businesses profited from this single exploration project.
The Benefits to Yukon Summary report is a requirement of a benefits agreement between the company, the Yukon government and the Vuntut Gwitchin First Nation. Benefits agreements are a requirement under the Yukon Oil and Gas Act. The Yukon government has been a part of seven benefits agreements for oil and gas operations since responsibility for the management of oil and gas resources transferred to the territory in 1998.
Northern Cross Yukon has been operating in Yukon since 1994. They currently hold rights to15 oil and gas permits in Northern Yukon.
For more information, or to view the report, visit www.yukonoilandgas.com.
Communications, Energy, Mines and Resources
News release #13-285