Oil & Gas

One need only turn on the news to know that oil and natural gas development are big businesses with big profits. 

There are known oil and gas resources within the Gespe’gewa’gi terrotiry of over 53,000 square kilometres.  Some of these resources are on the 71% of our territory that is Crown land.  Private land contains deposits, too.

We have an obligation to ensure that all oil and gas exploration and recovery projects on our territory are carried out safely and with concern for the environment.  At the same time, we want these resources managed sustainably, with revenues going to our people and communities in a fair manner.

Here are some facts about oil and gas production in Québec:

• the Old Harry site located within the Gespe’gewa’gi territory just north of the Magdalene Islands has the potential of generating 2 billion barrels of oil and natural gas worth an estimated of 9 billion dollars,
  
• Québec signed a deal with Canada giving 100% of the profits of any extracted oil or natural gas from Old Harry to Québec,

• in addition to the Old Harry site, research has led to the discovery of deposits in Gespe’gewa’gi, including Galt, near the town of Gaspé (gas), and Haldimand, near Gaspé (oil),
    
• some of the most promising geological targets for oil and gas exploration include shale gas, carbonate reefs, salt domes and gas-bearing deposits,
    
• since 1990, there has been a resumption of oil and gas exploration in Québec. Over the last decade, nearly $100 million has been spent on exploration,
    
• Québec has created two very advantageous tax measures for investors and organizations that carry out gas and oil exploration in Québec, including flow-through shares and refundable tax credits relating to resources.

It is obvious that many oil and gas deposits have been found in Gepe’gewa’gi and there are likely many more to be discovered and turned into profitable developments.

We required consultation with Québec so that the Mi’gmaq of Gespe’gewa’gi are accommodated through revenue sharing and our fair share of profits that are being made in our territory.