Imperial Oil is looking at selling its Norman Wells oil assets in the Northwest Territories.
The Calgary-based company says while a definitive decision has not been made, it recognizes the significance of such a move and is therefore speaking with Sahtu community leaders about its plans.
According to its website, Imperial Oil first discovered oil at Norman Wells, about 150 kilometres south of Arctic Circle, in 1920.
It says the operation is the most northerly producing oilfield in Canada and many of its wells are drilled from six artificial islands constructed in the Mackenzie River.
Gross production at Norman Wells averaged 11,000 barrels per day last year.