2006 Annual Report

NOIA PROFILE
Established in 1977, NOIA (Newfoundland Ocean
Industries Association) how has some 470
members in Atlantic Canada and around the
world, and is proud to serve as the information
hub of East Coast Canada’s oil and gas industry.
NOIA’s mission is to promote development of
East Coast Canada’s hydrocarbon resources and
to facilitate its membership’s participation in oil
and gas industries.
NOIA members provide products and services for
the petroleum sector. NOIA associate members
include petroleum companies, trade
associations, educational institutions, and
government bodies and agencies.
NOIA (as a member-directed association)
provides:
Market intelligence
Business opportunity information
Updates on industry and business trends
Networking with industry players
Profile and marketing opportunities
A voice for the supply and service sector
To deliver its membership programs and services
effectively, NOIA has established a strong
network of volunteers and a highly-skilled staff
team. As a not-for-profit organization, NOIA is
governed by a volunteer Board of Directors
which provides strategic direction to the
association’s professional staff. The Board’s
Chair, Vice Chair, Past Chair and Treasurer,
together with the President and CEO, make up
the Executive. NOIA draws on the knowledge and
expertise of its membership through two volunteer standing committees: Membership Services
and Policy and Research. Ad hoc working committees are also convened regularly to organize
larger events (such as seminars and Conference)
and to provide specialized knowledge for
research and policy development projects
arising throughout the year.
2
TABLE
OF
CONTENTS
Chairperson’s Report
3
Conference 2006 Committee Report
6
Membership Services Committee Report
Policy and Research Committee Report
President’s Report
Audited 2006 Financial Statements
4
8
9
11
NOIA STAFF
Ted Howell
President & CEO
Deirdre Robinson Greene
Vice President, Policy & Communications
Dana Feltham
Research & Policy Analyst
Peter Norman
Technology Manager
Debbie Rideout
Member Services Manager
Jackie Spurrell
Events Manager
Beverly Bishop
Sales & Marketing Manager
Doris Connors
Administration Manager
Geraldine Putt
Administration Assistant
CONTACT NOIA
Suite 602, Atlantic Place
215 Water Street
St. John’s, NL, Canada, A1C 6C9
Tel: (709) 758-6610 / Fax: (709) 758-6611
[email protected] / www.noianet.com
2006 ANNUAL REPORT
CHAIRPERSON’S REPORT
Roy Farrell
2006 NOIA Chairperson
2006 has been an eventful
and important year, for NOIA
and for the industry we
serve. It marks our 29th year
of operations and the
culmination of three decades
of hard work to help build
East Coast Canada’s
petroleum industry.
There have been ups and
downs, no doubt - a balanced
Newfoundland and
Labrador Budget for the first time in many years, driven
chiefly by oil revenues; suspension of negotiations on the
Hebron project; announcement of the Deep Panuke
Offshore Strategic Energy Agreement; and White Rose
coming into its own. But experience has taught NOIA and
its members to be patient and resolute, not to be
reactive but strategic, and to plan for long-term success.
The 2006 NOIA Board went into this pivotal year resolved
to prepare for the next decade. This remained our
priority throughout an extensive strategic planning and
renewal process. We looked toward a future where our
resource potential would be realized and our supply and
service capability could be fully used, and we let that
vision guide us in our planning.
The first priority was to review and re-validate our
mission and key policies, which we have done through
the Board’s strategic planning and the work of our Policy
& Research Committee. NOIA remains committed to its
mission: “to promote development of East Coast
Canada’s hydrocarbon resources and to facilitate its
memberships’ participation in oil and gas industries.”
Every activity we undertake and every service we provide
is tested against that mission.
We have engaged in initiatives and strengthened relationships that focus on long-term industry sustainability
and ongoing member opportunity. We have continued to
work within the Atlantic Energy Roundtable to identify
opportunities to enhance the competitiveness of our region and to attract exploration investment. We have
taken a leadership role in the Petroleum Industry Human
Resources Committee, to help develop our human
resource capacity to support a vibrant, long-term
petroleum industry.
To become an even stronger and more credible voice for
East Coast Canada oil and gas, we have strengthened
NOIA’s capacity for research and policy formulation. New
staff resources and a streamlined committee structure
have allowed us to improve our two-way communications. We are better positioned to draw on the
knowledge and experience of our diverse membership, to
develop well-informed positions and policy briefs that
accurately and effectively represent NOIA’s interest on a
broad range of issues, in every available forum, to
industry and government decision makers.
This year we used that voice not only for direct industry
advocacy, such as calling on government and the Hebron
partners to renew negotiations, but also to advocate on a
number of general issues affecting NOIA members, such
as Air Canada’s scale-back of direct transatlantic service
and the need for greater federal presence in
Newfoundland and Labrador.
As I step down as NOIA Chair, I look ahead with great
optimism to the opportunities represented by Orphan
Basin drilling, evaluation of West Bonne Bay, renewed
interest in the Jeanne d’Arc’s smaller-field potential,
indications of production success in Western
Newfoundland and various downstream projects throughout the region. We have much to look forward to, if we
choose to cast our eyes to the horizon.
I encourage members to take a long view. Get involved
with your association; help us realize our industry’s potential. Join a NOIA committee; communicate your views
directly. Your input will help strengthen NOIA’s voice as
an advocate for industry development and membership
interests.
Finally, I want to thank the many people who contributed
so much to NOIA during my tenure on the Board. Thank
you to my fellow Directors and committee volunteers.
Thanks also to NOIA staff for their unflagging energy,
commitment and professionalism.
And last, but certainly not least, I would also like to
thank you, NOIA members, for entrusting me with the
opportunity to serve as your 2006 Chair.
I wish our new Chair, Jerry Byrne, good luck and
success in 2007.
NOIA Board of Directors 2006
Roy Farrell, Transocean Canada Co., Chair
Jerry Byrne, D.F. Barnes Limited, Vice Chair
Geoff Cunningham, A. Harvey & Company Ltd., Treasurer
Tony Goobie, New Valve Services & Consulting Inc., Past Chair
Ted Howell, President & CEO
Ron Edmunds, Ozark Services Ltd., Director
Bill Fanning, Spectrol Energy Services, Director
2006 ANNUAL REPORT
Pat George, FMC Technologies Company, Director
Caron Hawco, Caron Hawco Communications, Director
Cathy Ivany, 3M Canada, Director
Bob Johnston, Battlefield Equipment, Director
Harry Pride, Blue Water Agencies, Director
Rob Strong, Rutter Engineering and Automation, Director
Deirdre Robinson Greene, VP, Policy & Communications
3
MEMBERSHIP SERVICES COMMITTEE REPORT
NOIA’s Membership Services
Committee has had an active
year, strengthening existing
services, developing new
initiatives and delivering
member-focused events.
Pat George
Chair, Membership
Services Committee
Ambassador Program
In 2006 the Membership
Services Committee’s took
responsibility for the NOIA
Ambassador Program. Established in 2004, the
Ambassador Program provides additional information and
promotion resources to NOIA’s membership. NOIA
Ambassadors are members who are actively engaged in
the global oil and gas business, outside our region. With
on-the-ground experience of other petroleum
jurisdictions, they provide current high-level market
intelligence about those jurisdictions; with direct
knowledge of East Coast Canada, they promote the expertise and experience of our supply and service sector.
This year, the Membership Services Committee recruited
five new Ambassadors:
Kurt S. Abraham (Gulf of Mexico)
Kenneth D. Mielke (Gulf of Mexico)
Wes Scott (Alberta)
Trond Skarsten (Norway)
J.W. (John) Lalonde (Alberta)
They join with veteran Ambassadors Glen Gibling
(Khazakstan), Carl Steenstrup (Australia),
Noel Brissard (Scotland), and Kathy Penney (Alberta)
to add additional value to NOIA membership.
Family Festival
In 2006 NOIA added a new event to its social calendar.
The first ever NOIA Family Festival was held on October
1st at the Justina Centre in Outer Cove.
Families of NOIA members came together to enjoy each
other’s company, a delicious barbeque and a wide
variety of fun for all ages – including face painting,
4
balloon twisting, softball, inflatable bouncers, a maze
and even a velcro fly-trap! The Family Festival was such
a success that it attracted a group of local children, and
there are plans to continue it in the fall of 2007.
Seminars
The Membership Services Committee shepherded two
seminars in 2006:
Supplier Development Forum:
Enhancing your Opportunities
West Meets East:
Western Opportunities - East Coast Solutions
Responding to member demand, the Supplier
Development Forum is becoming an annual event and
once again provided an excellent venue for buyers and
sellers to meet and do business. Planning is already
underway for another Forum in March 2007, which
promises to identify more business opportunities for
NOIA members.
NOIA’s fall seminar focused on business opportunities in
the Alberta oilpatch. West Meets East: Western
Opportunities – East Coast Solutions highlighted booming
oilsands activity and associated capacity challenges,
outlined typical technologies and project timelines, and
was well-attended by members considering doing
business with our Western Canadian cousins.
This event was part of a collaborative effort by the
partners of the Alberta Opportunities Working Group:
NOIA, Canadian Manufacturers and Exporters –
Newfoundland and Labrador Division, the Government of
Newfoundland and Labrador’s Department of Innovation,
Trade and Rural Development, the Atlantic Canada
Opportunities Agency and the City of St. John’s. Building
on this initiative, in March 2007 NOIA will participate,
along with interested members, in the National
Buyer-Seller Forum in Edmonton Alberta.
Luncheons
NOIA held two stand-alone keynote luncheons during
2006. In March, the Minister of Natural Resources
Canada, Gary Lunn, delivered his first speech in this
province since being appointed to the post by Prime
Minister Stephen Harper. In November, NOIA featured
keynote speaker Bob Keiller, CEO of Production Services
2006 ANNUAL REPORT
MEMBERSHIP SERVICES COMMITTEE REPORT
Network (PSN) World. Mr. Keiller outlined PSN’s plans to
make St. John’s the company’s Canadian headquarters,
capturing work from the Western Canadian market and
executing it in Newfoundland and Labrador.
Also during 2006, NOIA hosted three technical luncheons
in conjunction with the Society of Petroleum Engineers
and one SME Lunch and Learn to aid small and medium
sized members in learning about topical issues in the oil
and gas industry.
Networking
Every NOIA event, of course, provides valuable
networking opportunities. This year, in addition to
networking socials associated with seminars and
luncheons, NOIA hosted two stand-alone networking
events, as well as its ever-popular September golf
tournament.
In order to facilitate even more networking opportunities
for members, in 2006 NOIA developed a new networking
sponsorship program. Stand-alone networking socials will
be sponsored by NOIA members with an interest in
promoting their business to the East Coast Canada oil and
gas industry. There was great interest in this program and
six such socials scheduled for 2007.
My two years as a director of NOIA and many years as a
member have been a highlight of my career. I wish to
thank all of the executive, staff, directors and members
of NOIA for allowing me the association with such a fine
organization in such a grand province. I will continue to
be a supporter of NOIA and a fan of Newfoundland and
Labrador.
MANY THANKS TO THE
DEDICATED
VOLUNTEERS WHO GAVE THEIR TIME,
THOUGHT AND ENERGY TO PLAN AND
EXECUTE NOIA'S EXCELLENT 2006
ROSTER OF EVENTS AND SERVICES
NOIA MEMBERSHIP SERVICES COMMITTEE 2006
NOIA SPRING SEMINAR COMMITTEE
Harry Pride, Blue Water Agencies
Beverley Bishop, NOIA
Mike Critch, Fabcon Canada
Betty Shea, Oil and Gas Magazine
Jim Burroughs, B.J. Process & Pipeline Services
Jeff Peddle, I.H. Mathers
Jackie Spurrell, NOIA
Deirdre Robinson Greene, NOIA
Andrew Collins, P.F. Collins Customs Broker
Ron Edmunds, Penney Energy
Bill Stephenson, Eastern Industrial Sales & Service
NOIA FALL SEMINAR COMMITTEE 2006
Rob Strong, Rutter Engineering and Automation
Beverley Bishop, NOIA
David Finn, PRAC
Tony Goobie, Eastern Valve & Control Specialties
Ted Howell, NOIA
Bob Johnston, Battlefield Equipment
Greg Moores, Stewart McKelvey
Andrew Noseworthy, ACOA
Deirdre Robinson Greene, NOIA
Jackie Spurrell, NOIA
Linda Spurrell, Innovation, Trade & Rural
Development, GNL
Bill Sterling, Canadian Manufacturers & Exporters NL Division
Bill Stephenson, Eastern Industrial Sales & Service
Derek Strong, Pan Maritime Energy Services
Keith Warren, International Trade Canada
NOIA FAMILY FESTIVAL COMMITTEE 2006
Pat George, FMC Technologies Canada
Beverley Bishop, NOIA
Blake Brockerville, M-I Drilling Fluids Canada
Andrew Collins, P.F. Collins Customs Broker
Geoff Cunningham, A. Harvey and Company
Kelly Horne, ASCO Canada
Toni Loder, Halliburton Energy Services
Bob McCarthy, St. John’s Port Authority
Deirdre Robinson Greene, NOIA
Betty Shea, Oil and Gas Magazine
Mark Wilson, Halliburton Energy Services
Pat George, FMC Technologies Canada
Beverley Bishop, NOIA
Blake Brockerville, M-I Drilling Fluids Canada
Andrew Collins, PF Collins Customs Broker
Geoff Cunningham, A. Harvey and Company
Kelly Horne, ASCO Canada
Ted Howell, NOIA
Bob McCarthy, St. John’s Port Authority
Deirdre Robinson Greene, NOIA
Mark Wilson, Halliburton Energy Services
2006 ANNUAL REPORT
5
CONFERENCE 2006 COMMITTEE REPORT
NOIA’s Annual International
Petroleum Conference is a
key membership service and
the Association’s biggest
event during any given year.
It requires extensive
planning: just one month
after Conference adjourns,
the next year’s Conference
Tony Goobie
Committee convenes to
2006 NOIA Past Chair;
begin outlining the next.
Chair, Conference 2006
Committee
While the experience is not
unique, I was fortunate and
very grateful to have the experience and expertise of an
exceptional committee.
discussions about its future. The very full presentation
agenda was complemented by a host of networking
opportunities, including an ice-breaking Pre-Conference
Social featuring lively entertainment and beautiful
weather; an opening Gala Reception with elegant jazz
music, distinguished guests and sumptuous foods; and the
truly wonderful Lobsterfest.
The theme of NOIA Conference 2006, In Demand and
Moving Forward, captured the spirit of East Coast
Canada’s oil and gas industry. The agenda provided the
customary regional updates, showcasing the typically
strong production performance of the East Coast projects
that are feeding hungry markets in North America and
elsewhere. The agenda also looked forward to provide
understanding of how environmental learnings would be
absorbed and actioned in future and to project our
industry’s human resource requirements and how to meet
them.
Day One sessions provided information about the
operation of several East Coast Canada producing
projects: the first operational update for the White Rose
field, with good news about the project’s continued
expansion, as well as an outline of Husky Energy’s 2006
drilling plans in partnership with Norsk Hydro Canada Oil
and Gas.
Over 700 delegates joined NOIA in celebrating the
current strength of the industry while engaging in frank
Economics and human resources were also on the agenda
for Day One. Don Drummond, Senior Vice President and
Chief Economist with TD Bank Financial Group, provided
the keynote address at the opening luncheon and
discussed the impact of the industry on the
Newfoundland and Labrador economy. The day closed
with a panel of human resources specialists discussing
the challenges of human resources supply in the global
oil and gas industry, bringing forward innovative solutions
for the future.
6
2006 ANNUAL REPORT
CONFERENCE 2006 COMMITTEE REPORT
Concluding the morning’s events, Rex Murphy remained
to address the Conference’s Closing Luncheon.
Mr. Murphy inspired the audience with a discourse on the
characteristics that make Newfoundlanders and
Labradorians resourceful, resilient and entrepreneurial
by nature.
On behalf of NOIA and all conference delegates, I want to
again thank presenters, sponsors and members of the
organizing committee for making the 2006 NOIA
Conference a great success.
Day Two opened with presentations by Petro-Canada
discussing their solutions to environmental and
operational challenges. The agenda transitioned into East
Coast Canada’s resource potential, with presentations
highlighting the region’s geology – including the newest
focus areas in the Laurentian and Orphan Basins. Future
potential was also discussed in terms of natural gas, as
technical advances promise to bring Newfoundland and
Labrador’s significant natural gas resources closer to
development. The industry’s future outlook was also the
theme of Day Two’s keynote luncheon, as Gwynne Dyer
provided a global context for the challenges facing the
industry.
The final day of the 2006 NOIA Conference featured an
innovative and forward-looking session. Three
presentations on economics and R&D set the stage for a
frank and energetic panel discussion. Panel members
provided individual presentations on the business climate
and political culture of Newfoundland and Labrador and
then engaged in lively debate with delegates and each
other on the current environment and how it may or may
not affect private investment.
2006 ANNUAL REPORT
NOIA Conference 2007, East Coast Canada Oil and Gas:
Building a Strong, Competitive Industry, will be chaired
by NOIA’s Chairperson for 2006, Roy Farrell of Transocean
Canada Co. He looks forward to welcoming delegates in
St. John’s, June 18 – 22, 2007.
NOIA CONFERENCE COMMITTEE 2006
Tony Goobie, Eastern Valve & Control Specialties
Margaret Allen, Husky Energy
Paul Barnes, CAPP
Beverley Bishop, NOIA
Moya Cahill, Pan Maritime Energy Services
Bernard (Tanny) Collins, P.F. Collins Customs Broker
Doug Cook, Petro-Canada
Leslie Galway, Business, GNL
Pat George, FMC Technologies Company
Ruth Graham, Schlumberger Oilfield Services
Caron Hawco, Caron Hawco Communications
Dave Hawkins, CNLOPB
Stephen Henley, EnerSea Canada
Ted Howell, NOIA
Tony Janes, City of Mount Pearl
Deirdre Robinson-Greene, NOIA
Gunnar Rornes, Norsk Hydro Canada Oil and Gas
Heather Mills-Snow, City of St. John’s
Jackie Spurrell, NOIA
Robert Steneker, Chevron Canada
Rob Strong, Rutter Engineering and Automation
Philip Whelan, Whelan Affiliated Services
Keith Warren, International Trade Canada
7
POLICY AND RESEARCH COMMITTEE REPORT
2006 was a highly active year
for NOIA’s Policy & Research
Committee. The Committee
began the year with three
primary objectives: to review
and revise the NOIA Policy
Compendium, to ensure wellinformed responses to all
consultations with the
potential to affect our
Jerry P. Byrne
industry and to build NOIA’s
2006 NOIA Vice Chair;
Chair, Policy & Research
knowledge base (including
Committee
research, information briefs
and policy positions). I am
pleased to report considerable success in all three areas.
The NOIA Policy Compendium is our Association’s
statement of fundamental beliefs and positions, including
footnote references to all NOIA presentations and
publications that have expressed those ideas over the
past decade. In many ways, it serves as a guide and a
test when we develop new policies and positions. It was
first adopted in 2000 and has now been thoroughly
reviewed, revised and augmented with up-to-date
publication references. We intend that it be reviewed
and revised regularly, so that it continues to accurately
reflect what NOIA stands for. The NOIA Policy
Compendium is available on the Association website,
along with our other policy and research publications, at
http://www.noianet.com/publications.aspx.
The Committee also provided research input, drafting
and review for NOIA’s submissions to an unprecedented
number of consultations, including:
Government of Newfoundland and Labrador Energy
Plan Discussion Paper
Federal Standing Committee on Finance Budget
Consultation
Government of Newfoundland and Labrador proposed
Sustainable Development Act Consultation
Government of Newfoundland and Labrador
pre-Budget Consultation
Hibernia Development Plan Update (May 2006)
Consultation
Government of Newfoundland and Labrador Skills Task
Force Consultation
NOIA’s briefs and submissions to these consultations drew
heavily on established policy, much of it drawn from the
NOIA Policy Compendium. Submissions to all consultations emphasized five key principles intended to
encourage ongoing success for East Coast Canada’s
petroleum industry in both the Newfoundland and
Labrador and Nova Scotia jurisdictions:
Re-investing a portion of petroleum revenues to
support industry success
Actively working to attract investment
8
Facilitating exploration and development
Effectively managing petroleum resources, activity
and industry infrastructure to facilitate the industry’s
long-term sustainability and ongoing opportunity for
the region’s resident petroleum supply and service
sector
Encouraging open and timely communications by
industry and governments, to assist in identification
and pursuit of business opportunity
The Policy & Research Committee has in 2006 built NOIA’s
knowledge base through in-house research projects on a
range of topics, including:
petroleum industry skills requirements and outlook
the impact of Canada’s Coasting Trade Act on our
offshore industry
land tenure legislation and regulations in various
global jurisdictions
petroleum exploration attraction strategies in
comparable jurisdictions
the impact of Nova Scotia’s Offshore Strategic Energy
Agreement (OSEA) process on project negotiations
These research projects, set in the context of the
Association’s fundamental beliefs and principles, as well
as our mission statement, have informed NOIA’s policy
and position statements throughout 2006.
NOIA’s mission is to promote the development of East
Coast Canada’s hydrocarbon resources and to facilitate
our memberships’ participation in oil and gas industries.
In 2006 this mission was clearly reflected in our
association’s policy and research activities and public
communications. NOIA will continue to use the Policy &
Research Committee as a means to engage key
stakeholders in both government and industry, for the
ongoing and (we trust) increasing success of our industry.
NOIA POLICY AND RESEARCH COMMITTEE 2007
Jerry P. Byrne, D.F. Barnes
Roger Clarke, PSN Canada
Bernard (Tanny) Collins, P.F. Collins Customs Broker
Elizabeth Deblois, Jacques Whitford
Bill Fanning, Spectrol Energy Services
Dana Feltham, NOIA
Caron Hawco, Caron Hawco Communications
Ted Howell, NOIA
Doug McEwan, Global Santa Fe
Steve Millan, Canadian Imperial Venture Corp.
Bill Newton, nsb offshore
Barry North, Schlumberger Canada
Deirdre Robinson Greene, NOIA
Phil Whelan, Whelan Affiliated Services
Jim Wright, Memorial University
2006 ANNUAL REPORT
PRESIDENT’S REPORT
NOIA and its members
began 2006 with great
confidence and
enthusiasm. After the
on-time, on-budget
fabrication, installation
and commissioning of
topsides for the Sea Rose
FPSO, predominantly by
local companies, the White
Rose field had commenced
Ted Howell
President & CEO
production in November
2005. The Hebron
consortium partners had completed a joint
operating agreement and were in negotiations with
government for the development of the Hebron
complex. Heading toward our fourth project
offshore Newfoundland and Labrador, most NOIA
members believed that we were truly on the verge
of a full-fledged industry. The future was looking
incredibly bright.
Our exuberance was stunted in early April with an
announcement that talks on Hebron had come to an
abrupt halt. Positions on the failed negotiations
soon became polarized: the general public showed
unprecedented support for government’s strong
stance against “big oil” while many industry
insiders and pundits mused publicly about the risk
of driving away billions in investment capital from
an industry where global competitiveness is
paramount.
Paradoxically, the events surrounding the stalled
Hebron negotiations have actually strengthened
NOIA as an industry association. NOIA immediately
called on both parties to resume negotiations,
citing the importance of continuity to an industry
that was now leading the provincial economy.
During our annual conference in June we held a
news conference that launched NOIA into an
unprecedented level of engagement with the media
and general public, allowing NOIA to fully execute
our core advocacy and communications objectives
throughout 2006.
In submissions to government, public presentations
and media interviews, our key messages constantly
and consistently addressed the potential of our offshore resources, the capacity and capabilities of
our supply and service community, and the need for
steady, incremental, sustainable development of
our resources and industry infrastructure in order
to maximize the benefits of these resources
2006 ANNUAL REPORT
for the benefit of all Newfoundlanders and
Labradorians. Our comments and positions have
always been supported by sound, comprehensive
research and established policy statements.
While advocacy and external communications
commanded much of our attention and effort
during 2006, we also worked diligently on
delivering quality publications, events and other
activities that provide tangible opportunities for
networking, member promotion, sharing market
intelligence and identifying new business
opportunities. Details of some of these activities
are contained in other reports throughout this
annual report.
We launched our new website during the year and
continue to refine its content and navigation to
ensure maximum value for members and other
users. NOIAnet, together with our highlyacclaimed daily NOIA Bulletin and bi-monthy NOIA
News positions NOIA as the information hub of East
Coast Canada’s oil and gas industry. In 2006 we
made a conscious effort to heighten member and
stakeholder awareness of our research, policy and
communications work through notices and
electronic links to key messages, presentations and
publications.
We also implemented a comprehensive new
financial reporting and budgeting process,
supported by enhanced accounting systems and
procedures. In addition to improved operating
efficiency and controls, these systems, processes
and procedures will provide better information for
improved decision-making. Of particular note is
our enhanced capability for statistical analysis of
NOIA members and their participation in NOIA
programs, events and activities. We are confident
that this information will lead to improved service
delivery in the future.
Our operating loss for the year is largely the result
of our transition to a self-sustaining financial
model. NOIA has been the recipient of substantial
government funding over the years, both for core
operations and for special projects, but operated
during 2006 with substantially lower government
funding due to the expiry of certain projects. With
the continuing support of our members, under our
current operating model we are forecasting a break
even position for 2007. An unrestricted surplus in
excess of $500,000 provides considerable flexibility
to adapt to future operating challenges.
9
PRESIDENT’S REPORT
NOIA management and directors agree that the
long-term strength and success of the organization
is enhanced when our activities and direction are
guided by a strategic plan. To this end, we
concluded an extensive planning process during
2006, which confirmed our current mission
statement and set out our strategic plan for 2007
and beyond.
After an extensive review of NOIA services,
activities and resources, we concluded that all
current services and activities support our mission
“to promote development of East Coast Canada’s
hydrocarbon resources and to facilitate our
membership’s participation in oil and gas
industries.” However, we realize that in the
current uncertain environment we must be
increasingly diligent in the execution of everything
that we do: our advocacy efforts must focus on
striking a balance between attracting investment
and achieving appropriate economic benefits for
the beneficial owners of the resources – the people
YOUR
of Newfoundland and Labrador; our events and
activities must remain relevant in a challenging
business environment; and we may need to be
creative in facilitating business opportunities for
members.
The time since I joined NOIA in April 2006 has been
personally rewarding. I thank the Board of
Directors for their patience, support and
encouragement as we faced the challenges of 2006
and prepared for the years ahead. I thank our
many committee volunteers for contributing their
experience and guidance to our events and
activities. I especially thank each member of the
NOIA staff for their knowledge, commitment and
professionalism in delivering services to our
membership. Effective February 1, 2007 we are
adopting a new staffing model that better reflects
individual responsibilities and our commitment to
NOIA members. We look forward to your continued
support as we work diligently on your behalf.
RESOURCES IN THE
NOIA OFFICE
NOIA Staff (standing l-r): Beverley Bishop, Sales & Marketing Manager; Dana Feltham, Research & Policy Analyst;
Peter Norman, Technology Manager; Ted Howell, President & CEO; Doris Connors, Administration Manager;
Gerri Putt, Administration Assistant. (seated l-r): Jackie Spurrell, Events Manager;
Deirdre Robinson Greene, VP, Policy & Communications; Debbie Rideout, Member Services Manager
10
2006 ANNUAL REPORT
FINANCIAL STATEMENTS
2006 ANNUAL REPORT
11
12
2006 ANNUAL REPORT
2006 ANNUAL REPORT
13
14
2006 ANNUAL REPORT
2006 ANNUAL REPORT
15