The OGDCL injected 14 new wells, producing 251,642 Barrels crude oil and 6,709 Million Cubic Feet (MMCF) gas, in its production gathering system during the last fiscal year.
Brent crude futures fell 17, or 0.4pc, to $42.13 a barrel by 0818 GMT and US West Texas Intermediate (WTI) crude futures were down 22 cents, or 0.6pc, at $40.
U.S. West Texas Intermediate (WTI) crude futures dropped 34 cents, or 0.8%, to $40.26 a barrel at 0645 GMT.
The more-active Brent crude futures for December fell 32 cents, or 0.8%, to $42.55 a barrel. The November contract, which expires on Wednesday, fell 27 cents to $42.16 per barrel.
Despite efforts by the Organization of the Petroleum Exporting Countries and their allies to limit output, more crude is being exported from OPEC producers Iran and Libya.
O'Regan said in St. John's, Newfoundland and Labrador, that the funds are intended to support jobs, and could be used for maintenance, upgrades and environmental services.
The money falls short of requests from the industry, which included a government stake in a major project, tax credits and investment incentives.
Brent crude futures fell 21 cents, or 0.5pc, to $41.56 a barrel by 0922 GMT, while US West Texas Intermediate (WTI) crude futures dropped 26 cents, or 0.7pc, to $39.67 a barrel.