Cenovus Energy, which merged with Husky earlier in the year, is expecting most of its capital spending in the offshore sector to be directed towards the Terra Nova Asset Life Extension project – but the jury is still out on West White Rose.
Cenovus released its 2022 budget and 5-year business plan today.
The company expects that most of the $200 to $250 million dollars in offshore capital spending to be directed towards the asset life extension of the Terra Nova and preservation capital for the West White Rose Project.
The company says Cenovus and its partners are continuing to evaluate their options on West White Rose with a decision on any further investment in the project to be made by mid-2022.
Source: VOCM | This text was excerpted from the media outlet cited on December 9, 2021 and is provided to Noia members for information purposes only. Any opinion expressed therein is neither attributable to nor endorsed by Noia.