The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) has clarified its expectations respecting the dissemination of industrial benefits reports to the public.

Beginning in 2012, all project Operators are expected to make Canada-Newfoundland and Labrador benefits reports available to the public on both a quarterly and an annual basis. This initiative, which will apply to the Operators of the Hibernia, Terra Nova, White Rose and North Amethyst projects, will commence with the publication of the first quarterly report for 2012 due for release by April 30, 2012 (30 days following the end of the quarter). Annual reports are due by March 31st of the following year, with the first report due by March 31, 2013. In the case of future projects, including the Hebron project, it is the Board’s expectation that public reporting of industrial benefits is to commence the first quarter following any approval of a benefits plan by the Board.

The C-NLOPB has taken this initiative to advance the public’s interest in better understanding benefits accomplishments, achievements and impacts. This initiative is also consistent with the Board’s benefits plan guidelines and conditions of approval imposed by the Board on recent past development projects.

While the reports to be publically released by the project Operators need not contain any confidential or proprietary information, the C-NLOPB has indicated they should include:

• highlights of project activity and industrial benefits accomplishments;
• employment information;
• Canadian-Newfoundland and Labrador content estimates;
• a summary of contracting and procurement activity;
• a summary of initiatives and undertakings with respect to research and development and education and training;
and
• information respecting the operator’s diversity initiatives and accomplishments.

The expectation that Operators make industrial benefits reports publically available will not affect the status quo in relation to the frequency and content of reports being submitted to the Board. These reports are privileged pursuant to section 119 of the Atlantic Accord legislation and will not be released to any third party without the operator’s written consent. The latter does not apply with respect to sharing such reports with the Provincial and Federal Ministers of Natural Resources as provided in the legislation and the Board will continue to make such reports available to the Ministers on a confidential basis.

To further clarify the Board’s expectations, project Operators have been provided with a template that prescribes the format and content of the information to be reported publically. The template will ensure consistency in the information being released and will aid in tracking and comparing advancements in benefits achievements from project-to-project.

Any questions respecting this initiative may be forwarded to information@cnlopb.nl.ca.