Glossary
Browse the IADC Lexicon alphabetically or by category. Get comprehensive definitions of drilling industry terms.
Self-sufficiency
Definition(s)
Self-sufficiency
“Self-sufficiency” means a volume of suitable crude oil and equivalent substances available from Canadian hydrocarbon producing capacity that is adequate to supply the total feedstock requirements of Canadian refineries necessary to satisfy the total domestic refined product requirements of Canada, excluding those feedstock requirements necessary to produce specialty refined products; autosuffisance. Source: Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation Act, S.C. 1988, c. 28, Canada, current to May 26, 2013. LegislationSecurity of Supply
Definition(s)
Security of Supply
“Security of supply”, in respect of any period, means the anticipation of self-sufficiency during each of the five calendar years in that period, taking into account the aggregate during each such year of anticipated additions to producing capacity and anticipated adjustments to refining capacity; sécurité des approvisionnements. Source: Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation Act, S.C. 1988, c. 28, Canada, current to May 26, 2013. LegislationSable Island
Definition(s)
Sable Island
“Sable Island” means the area, whether above or under water, that is within the limits described in Schedule III; Île de Sable. Source: Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation Act, S.C. 1988, c. 28, Canada, current to May 26, 2013. LegislationRevenue Account
Definition(s)
Revenue Account
“Revenue Account” means the account established under section 219; Compte de recettes. Source: Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation Act, S.C. 1988, c. 28, Canada, current to May 26, 2013. LegislationQualified Canadian Exploration Expenditure
Definition(s)
Qualified Canadian Exploration Expenditure
“Qualified Canadian exploration expenditure” has the meaning assigned by subsection 127(9) of the Income Tax Act; dépense admissible d’exploration au Canada. Source: Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation Act, S.C. 1988, c. 28, Canada, current to May 26, 2013. LegislationPublic Service
Definition(s)
Public Service
In this section, “public service” has the same meaning as in the Public Service Labour Relations Act. Source: Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation Act, S.C. 1988, c. 28, Canada, current to May 26, 2013. LegislationPublic Service of Canada
Definition(s)
Public Service of Canada
“Public Service of Canada” has the meaning given the expression “public service” in the Public Service Labour Relations Act, and includes any portion of the federal public administration designated by order in council pursuant to this subsection and for the purposes of this section as part of the Public Service of Canada; administration fédérale. Source: Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation Act, S.C. 1988, c. 28, Canada, current to May 26, 2013. LegislationPublic Servant
Definition(s)
Public Servant
“Public servant” means a person employed in the Public Service of Canada, and includes any other person who is a civil servant within the meaning of the Provincial Act; fonctionnaire . Source: Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation Act, S.C. 1988, c. 28, Canada, current to May 26, 2013. LegislationProvincial Government
Definition(s)
Provincial Government
“Provincial Government” means the lieutenant governor in council of the Province; gouvernement provincial. Source: Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation Act, S.C. 1988, c. 28, Canada, current to May 26, 2013. LegislationProvincial Act
Definition(s)
Provincial Act
“Provincial Act” means the Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation (Nova Scotia) Act, Chapter 3 of the Statutes of Nova Scotia, 1987, as amended from time to time; loi provinciale. Source: Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation Act, S.C. 1988, c. 28, Canada, current to May 26, 2013. LegislationProvince
Definition(s)
Province
“Province” does not include the Northwest Territories, Yukon or Nunavut; province. Source: Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation Act, S.C. 1988, c. 28, Canada, current to May 26, 2013. LegislationProvince
“Province” means the province of Nova Scotia; province. Source: Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation Act, S.C. 1988, c. 28, Canada, current to May 26, 2013. LegislationPhase-in Portion
Definition(s)
Phase-in Portion
“Phase-in portion” means- in respect of the first fiscal year of offshore production and, where applicable, the fiscal year immediately preceding the first fiscal year of offshore production, ten per cent,
- in respect of the first fiscal year following the first fiscal year of offshore production, twenty per cent,
- in respect of the second fiscal year following the first fiscal year of offshore production, thirty per cent,
- in respect of the third fiscal year following the first fiscal year of offshore production, forty per cent,
- in respect of the fourth fiscal year following the first fiscal year of offshore production, fifty per cent,
- in respect of the fifth fiscal year following the first fiscal year of offshore production, sixty per cent,
- in respect of the sixth fiscal year following the first fiscal year of offshore production, seventy per cent,
- in respect of the seventh fiscal year following the first fiscal year of offshore production, eighty per cent, and
- in respect of the eighth fiscal year following the first fiscal year of offshore production, ninety per cent; fraction progressive.
Petro-Canada
Definition(s)
Petro-Canada
In this section, “Petro-Canada” means the corporation established by the Petro-Canada Act. Source: Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation Act, S.C. 1988, c. 28, Canada, current to May 26, 2013. LegislationOffshore Revenue
Definition(s)
Offshore Revenue
“Offshore revenue”, in respect of any fiscal year, means the aggregate of amounts paid during that fiscal year to Her Majesty in right of the Province pursuant to paragraph 219(2)(b); recettes extracôtières. Source: Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation Act, S.C. 1988, c. 28, Canada, current to May 26, 2013. LegislationOffshore Petroleum Royalty Act
Definition(s)
Offshore Petroleum Royalty Act
“Offshore Petroleum Royalty Act” means the Offshore Petroleum Royalty Act, Chapter 9 of the Statutes of Nova Scotia, 1987, as amended from time to time; loi sur les redevances. Source: Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation Act, S.C. 1988, c. 28, Canada, current to May 26, 2013. LegislationNova Scotia Trunkline
Definition(s)
Nova Scotia Trunkline
In this section, “Nova Scotia trunkline” means a trunkline for the transmission of petroleum in the offshore area or from the offshore area to and within the Province, and includes all tanks, reservoirs, storage facilities, pumps, racks, compressors, loading facilities, interstation systems of communication by telephone, telegraph or radio, and real and personal property connected therewith that are located within the Province or the offshore area, but does not include laterals, gathering lines, flow lines, structures, or facilities for the production and processing of petroleum. Source: Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation Act, S.C. 1988, c. 28, Canada, current to May 26, 2013. LegislationNova Scotia Social legislation
Definition(s)
Nova Scotia Social legislation
“Nova Scotia social legislation” means the Labour Standards Code, Chapter 10 of the Statutes of Nova Scotia, 1972, as amended from time to time, the Occupational Health and Safety Act, Chapter 3 of the Statutes of Nova Scotia, 1985, as amended from time to time, the Trade Union Act, Chapter 19 of the Statutes of Nova Scotia, 1972, as amended from time to time, and the Workers’ Compensation Act, Chapter 65 of the Statutes of Nova Scotia, 1968, as amended from time to time; lois sociales. Source: Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation Act, S.C. 1988, c. 28, Canada, current to May 26, 2013. LegislationNova Scotia Resources (Ventures) Limited
Definition(s)
Nova Scotia Resources (Ventures) Limited
“Nova Scotia Resources (Ventures) Limited” means the company incorporated on November 20, 1981 under the Companies Act, Chapter 42 of the Revised Statutes of Nova Scotia, 1967; Société. Source: Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation Act, S.C. 1988, c. 28, Canada, current to May 26, 2013. LegislationNova Scotia Insurance Premiums Tax Act
Definition(s)
Nova Scotia Insurance Premiums Tax Act
“Nova Scotia Insurance Premiums Tax Act” means the Insurance Premiums Tax Act, Chapter 149 of the Revised Statutes of Nova Scotia, 1967, as amended from time to time; loi sur la taxation des primes d’assurance. Source: Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation Act, S.C. 1988, c. 28, Canada, current to May 26, 2013. LegislationNova Scotia Income Tax Act
Definition(s)
Nova Scotia Income Tax Act
“Nova Scotia Income Tax Act” means the Income Tax Act, Chapter 134 of the Revised Statutes of Nova Scotia, 1967, as amended from time to time; loi sur l’impôt direct. Source: Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation Act, S.C. 1988, c. 28, Canada, current to May 26, 2013. LegislationNova Scotia Consumption Tax Acts
Definition(s)
Nova Scotia Consumption Tax Acts
“Nova Scotia Consumption Tax Acts” means the Health Services Tax Act, Chapter 126 of the Revised Statutes of Nova Scotia, 1967, as amended from time to time, the Gasoline and Diesel Oil Tax Act, Chapter 116 of the Revised Statutes of Nova Scotia, 1967, as amended from time to time, and any other Act of the Legislature of the Province, as amended from time to time, as may be prescribed; lois sur l’impôt indirect. Source: Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation Act, S.C. 1988, c. 28, Canada, current to May 26, 2013. LegislationNational Average Per Capita Fiscal Capacity
Definition(s)
National Average Per Capita Fiscal Capacity
“National average per capita fiscal capacity” means the per capita fiscal capacity of all of the provinces; moyenne nationale. Source: Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation Act, S.C. 1988, c. 28, Canada, current to May 26, 2013. LegislationInvestment Tax Credit
Definition(s)
Investment Tax Credit
“Investment tax credit” has the meaning assigned by subsection 127(9) of the Income Tax Act; crédit d’impôt à l’investissement. Source: Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation Act, S.C. 1988, c. 28, Canada, current to May 26, 2013. LegislationGovernment
Definition(s)
Government
“Government” means the Federal Government, the Provincial Government or both, as the context requires. Source: Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation Act, S.C. 1988, c. 28, Canada, current to May 26, 2013. LegislationFundamental Decision
Definition(s)
Fundamental Decision
“Fundamental decision” means a decision made by the Board respecting the exercise of a power or the performance of a duty pursuant to a provision of this Act that expressly provides for the exercise of the power or the performance of the duty subject to sections 32 to 37; décision majeure. Source: Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation Act, S.C. 1988, c. 28, Canada, current to May 26, 2013. LegislationFirst Fiscal Year of Offshore Production
Definition(s)
First Fiscal Year of Offshore Production
“First fiscal year of offshore production” means, at the option of the Government of the Province, exercised by filing a notice in writing with the Federal Minister before the commencement of commercial production of petroleum in the offshore area, 1. the earliest of1. the fiscal year beginning on the first day of April next following the day that is three years immediately following the commencement of commercial production of petroleum in the offshore area, and
2. any one of the three fiscal years immediately preceding the fiscal year referred to in subparagraph (a)(i), if a request for the designation of such year as the first fiscal year of offshore production is made in writing to the Federal Minister by the Provincial Minister prior to the beginning of such year, or
2. the fiscal year beginning on the first day of April next following the commencement of commercial production of petroleum in the offshore area; premier exercice de production extracôtière. Source: Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation Act, S.C. 1988, c. 28, Canada, current to May 26, 2013. Legislation