Yukon oil and gas
Yukon Territory. Dept. of Economic Development
Whitehorse, Yukon : The Department, 2000.
30 leaves : ill., 1 map ; 28 cm.
ASTIS record 50641.
Experts know that there is significant oil and gas potential in the Yukon. Prudhoe Bay, Alaska, lies to the northwest. The Beaufort Sea lies to the the north. Producing basins in the provinces of British Columbia and Alberta lie to the south. Major new discoveries in the Northwest Territories are located just across the Yukon border. Yet the Yukon is mostly unexplored. ... The Yukon contains eight distinct sedimentary basins, each with its own unique geological history and character. Only 71 wells have been drilled in the territory and most of these are located in the Liard Plateau, Peel Plateau and Eagle Plain basins. ... Under federal control, development of Yukon oil and gas was considered to be a low priority. This changed, however, in November 1998, when the Yukon government assumed responsibility for this resource. Since that time, there has been dramatic progress in developing the important industry. The Yukon has implemented a
competitive and stable investment environment, because it recognizes the added challenges industry faces when exploring and developing in a frontier jurisdiction. Interest in the territory's resource is being driven by present and future demands for natural gas, and discussions about a northern pipeline. ... In preparing to take over the management of the territory's oil and gas resources, Yukon and First Nation governments jointly developed a Common Oil and Gas Regime. The Common Regime is a regulatory framework that ... [consists] of legislation, policies, regulation, programs and processes. It provides a consistent, streamlined management and regulatory approach throughout the territory. Without it, the Yukon could have ended up with 15 separate oil and gas regimes for First Nation and government-owned land. ... At the core of the Common Regime is the Yukon Oil and Gas Act, which was developed jointly by Yukon and First Nation governments. It
replaced the federal legislation that was in effect until the transfer of responsibility for oil and gas to the Yukon. ... The Act is the first resource legislation in Canada that is rooted in a Common Regime. It embodies made-in-Yukon legislation, regulations and processes that will guide the industry's development. Among other things, YOGA covers consultation between the Yukon and First Nation governments and how they will be involved in each other's processes. It contains provisions to ensure that Yukon people will benefit from oil and gas activity. YOGA is supplemented by regulations pertaining to dispositions, geoscience exploration, drilling and production, pipelines, gas processing, export, licence administration and royalties. First Nation governments will adopt YOGA and the regulations as their own, thereby setting a uniform standard throughout the territory. These co-operative efforts are a unique and historic process in Canada, and
the outcome is a regime that Yukon and First Nation governments can proudly display as best representing the needs and interests of all Yukon people. ...