|
Introducing a New Land of Opportunity |
Nature has blessed us with eight sedimentary basins rich in untapped potential – natural gas potential is estimated at 17 trillion cubic feet and oil potential is estimated to be nearly 700 million barrels. The Yukon contains eight structural sedimentary basins suitable for the formation and preservation of hydrocarbons. Seven of these basins occur within the sedimentary rocks of ancestral North America, and one occurs within the suspect terranes southwest of the Tintina Fault. Five of the basins occur in the northern Yukon, and two are located in the southern portion of the territory. Geology within the basins northeast of the Tintina Fault is essentially the same as that in the Western Canada Sedimentary Basin.
There is a great deal of interest in Yukon’s oil and gas prospects. To encourage exploration of this potential, we are helping to develop a pipeline infrastructure. Though the Duke Energy Gas Transmission Pointed Mountain Pipeline already provides pipeline access from southeastern Yukon to North America’s largest gas processing facility in Fort Nelson, B.C., it’s only the beginning. We are supporting the construction of both the Mackenzie Gas Project (to be completed before 2011) and the Alaska Highway Pipeline (due to be completed before 2014). Both projects will offer enormous employment opportunities for the North and will inject billions of dollars into our economy and result in a dramatic increase in investment.
|
Embracing Our Oil & Gas Future |
The Yukon government has developed a competitive regulatory regime by building on the experiences of other jurisdictions, drawing from the best ideas and making them better. There is one set of rules for industry based on a unique Common Regime jointly developed by Yukon and aboriginal governments. The Yukon offers an attractive fiscal environment that includes longer-term leases and permits and competitive royalty rates.
Yukon's government is committed to providing Yukon people and business with a fair and competitive tax regime. The government recently introduced the Yukon Small Business Investment Tax Credit to provide personal tax credit for Yukon investors who invest in Yukon corporations. We have no territorial sales tax or harmonized tax – only the federal government's 6% Goods and Services Tax (GST).
Yukon is a great place to live, to work, and to invest - presenting a positive investment climate with a wide range of programs and incentives. We also have a responsible government, a strong economy, a skilled labour force and a strategic location with access to international export markets. Not to mention, we have a quality of life that is second to none. Learn more.
