News Release

REF NO.: 249

SUBJECT: Hebron development positive news for Memorial

DATE: August 23, 2007

Yesterday’s announcement regarding the go-ahead for the Hebron-Ben Nevis offshore petroleum development project is also good news for Memorial University of Newfoundland says Dr. Axel Meisen, the university’s president.
“Our students, graduates, faculty and staff, particularly in the faculties of Engineering, Business Administration, Science and Arts, and in the Marine Institute, will greatly benefit from this project,” said Dr. Meisen.
Under the memorandum of understanding between the province and the oil companies, much of the front-end engineering and design work will be conducted in the province. Residents of the province will also have access to the engineering, technical and other professional work that is to be conducted outside the province. The gravity base structure (GBS), together with its sophisticated equipment and marine transportation system, will be construction and assembled, to the maximum extent possible, in the province. Much of this work will involve specialists, many of whom are graduates of Memorial University.
The memorandum of understanding also recognizes the importance of training. It sets aside $1 million for Memorial University and the College of the North Atlantic to provide training services up-front. “We will work with government, industry and the College of the North Atlantic to determine the specific requirements and what the university can do to meet those needs,” said Dr. Meisen.
“In addition, the memorandum of understanding commits the project partners to research and development expenditures of $120 million over the life of the project,” said Dr. Meisen. “R&D is another area where the university and organizations like C-CORE, which work closely with the university, can make great contributions and where the funds can support the research of our students, faculty and staff.” 
Dr. Meisen has congratulated the premier, his team and the industry partners for having reached an agreement that promises to generate outstanding, long-term benefits for the province.

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