IRC was founded in 1987 by Chiefs representing the oil and gas producing First Nations, following the recommendation of a task force that was established to study the role of the Crown in the management of First Nations oil and natural gas resources. An expanded and restructured Indian Oil and Gas Canada (IOGC) was established at the same time.
The work and activities of the IRC are guided by the mandates that were approved and adopted at previous AGM’s in 1993 and 1995. These mandates, which are currently being revamped, are as follows:
To support First Nations in their efforts to attain greater management and control of their oil and natural gas resources;
To complement initiatives by individual First Nations to gain economic self reliance and to ensure the preservation of the Crown Trust obligations under Treaties with First Nations;
To coordinate the promotion of initiatives with Federal and provincial governments, with industry and with other groups associated with oil, natural gas and related activities to enhance economic benefits realized by the First Nations from resource development;
To encourage a greater development and utilization of First Nations human resources in oil, natural gas and related activities;
To transform IOGC into a First Nations institution, working in partnership with the IOGC co-management Board. To this end work towards the establishment of an oil and gas business centre, and a First Nations oil and gas institution in the long term.