July 13, 2024

The Benefits Agreements of Oil & Gas

Unlike another country where natural resources are privately owned. Canadians enjoy the advantage of resource ownership. When the territories were created. The federal managed the advantages of resources found within the North. Devolution gave the Yukon government responsibility for the administration and control of Yukon’s natural resources for our collective benefit. Most public discussions on the resource as well as development benefits center on the potential as well as for brand spanking new jobs. Nature of the resource development project and can only grow as development. Within the natural resources, the sector grows.

Economic benefits also are available in the shape of rental of oil and gas rights, benefits agreements, exploration expenditures, and production royalties. The government also benefits by advancing our knowledge of the resource through science and innovation. Research and resulting adapted operations practices demonstrate the advantage of science and innovation. The knowledge gained helps to form better-informed decisions.

Oil & Gas Rights for Rent

Under Yukon’s Oil and Gas Act and Disposition Regulations. Companies who obtain these rights must make a piece bid deposit. If the exploration results in the production of oil or gas.

Benefits Agreements

The Benefits of Oil & Gas Activities Benefits agreements are a requirement under the Oil and Gas Act as well as to make sure Yukoners and communities enjoy oil and gas development projects. The corporate as well as must enter into a benefits agreement with the Yukon government and affected. First Nations who would really like to participate.

A benefits agreement commits a corporation to supply training. Employment and therefore the supply of products and services opportunities. For Yukoners and First Nation citizens. The character, scale, duration, and price of the activity affect the extent of advantages within the agreement. The Yukon government provides Benefits Agreement Guidelines to companies curious about oil and gas development.