Noia Retrospect
 

1970s

In 1977, a small but energetic group of volunteers recognized the need for an association to help facilitate the development and growth of Newfoundland and Labrador’s burgeoning oil & gas industry. So began Noia.

During the late 1970s, the Noia board met once every two weeks. Fitting in time between the various offices of its members, work was shared between executives and directors, with help from many people who volunteered time in between their full-time jobs.

It may be hard to think back to a time when the oil & gas industry was struggling to get off the ground with it being as prosperous as it is nowadays in Newfoundland and Labrador. In the 70s, Atlantic Canada lacked the infrastructure needed to support imminent oil & gas development. A thriving oil & gas industry seemed like a distant, improbable goal.

1980s

Over the next few years, a slow and steady expansion of resources, kick-started by the development of the Hibernia find, led to a glimmer of hope and a wide-spread enthusiasm in the newly burgeoning industry. In 1986, the price of oil plummeted to $9 a barrel. Drill rigs disappeared from the East Coast, and a tough period for the petroleum industry began. If the industry was to reach its full potential, there would be several lean years to survive.

Then came a period of reconstruction. Provincial and federal governments set about building new agreements and formalizing responsibilities, ending up with a new framework known as the Atlantic Accord. Noia stood poised and ready to create a business model that would take us into the future without worrying about questions of stability.

1990s

It took the hard work and dedication of businesspeople from Newfoundland and Labrador to make it happen. In early 1992, Gulf Canada was forced to abandon their 25 per cent section of the Hibernia partnership. A 30-person mission was undertaken to Ottawa, made up of people who were willing to take the trip upon their shoulders in order to convince Canada that Hibernia was important. The trip was a success, and Gulf Canada’s 25 per cent share was split among the remaining partners. The federal government holds interest through the Canada Hibernia Holding Corporation.

As time went on and the industry began to flourish, so too did Noia. Noia staff moved from a small workspace on Water Street to the current offices in Atlantic Place. With such a broad group of members spread out so many places around the province, our business focused on communication.

2000s

The oil & gas industry has brought Newfoundland and Labrador into a new age of prosperity, one which shows unbound potential to grow and expand into further economic developments if properly managed. Moving into the future, Noia represents the successes and ingenuity that make this province a leader in the oil & gas industry, and one that stands to set an example of how it can be done right.