Opposition Leader Yvonne Jones says while today’s Hebron deal will provide significant benefits to the province, there are still concerns that have not been addressed by government as it relates to issues such as equity risk, topsides fabrication work and skilled labour.

"Any deal that provides billions of dollars to the province in royalties and spinoff benefits is certainly positive," said Ms. Jones. "While I am pleased government finally signed the Hebron deal earlier today, I still have concerns related to certain aspects of the announcement. There are obviously areas that could cause problems in the years to come and must be questioned now.

"I still worry that our equity investment could cost the people of the province more money over the long-term. Should there be any significant cost-overruns or environmental liabilities, the people of the province will be on the hook for a portion of those costs. That risk could have been eliminated through a revamped and strengthened royalty regime. I have raised this concern before and I can only hope this risk will be worth the gamble in the future.

"I also have concerns related to the amount of topsides work to be completed in Newfoundland and Labrador. Government admitted today that a super module will be bid to competitors outside the province. This is a significant piece of work that could create millions of person hours of employment. In addition, there are clauses in place that dictate that other topside modules will only be completed in the province should space and human resources be available. This language is certainly open for interpretation, but could result in other major pieces of fabrication being done outside the province. Should these major pieces of work be completed elsewhere, workers in our province will lose out on these opportunities.

"It is also important for government not to lose sight of the challenges facing our workforce. There are predictions that a major skills shortage will affect this province and the Hebron project. Therefore, it is necessary to bring Newfoundlanders and Labradorians living in other provinces home for work. This will only be possible if competitive wages are provided and long-term stability is available for workers. There must be a focus on recruiting workers to come home and momentum must be created to ensure that other projects are on the horizon after Hebron. This is the only way we will be able to meet the shortages that are being predicted for our workforce.

"Any agreement that provides increased revenues, benefits and employment to the people of the province is positive. I am pleased that this government, after five years in office, has finally signed an agreement that will strengthen the economy of Newfoundland and Labrador. Unfortunately, there are still areas for improvement and time will tell whether this was indeed the best Hebron deal we could have achieved."

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