The province’s energy minister is reacting with cautious optimism to recent reports about Bay du Nord indicating the field could contain some one-billion barrels of oil. Andrew Parsons could not speak to any details as Equinor has been “keeping their cards very close,” but says he’s happy to hear there is significant potential in the […]
Equinor is working on a massive transformation of its stalled Bay du Nord oil project off Newfoundland, Canada where reserves have tripled in size after last year’s major discoveries at Cambriol and Cappahayden and now stand at close to 1 billion barrels. Upstream understands that engineers are pulling together a phased development plan for the […]
ST. JOHN’S, N.L. — Briefing notes obtained by the Official Opposition through an access to information request show the provincial government appears to have gone against its own advice in negotiations with Suncor Energy and its partners in the Terra Nova project by offering to take up to a 15 per cent equity stake in […]
In the early 2000s the Newfoundland and Labrador offshore oil and gas industry was able to demonstrate its versatility and ingenuity through the adoption of FPSO technology in our offshore. Since the Terra Nova FPSO began production in 2002, we have gained new experience in floater construction, operation, management, and maintenance. We have demonstrated that […]
The most vexing challenge for service companies in the geosciences sector is predicting the ebb and flow of oil company spending on exploration that provides the lifeblood of the business. How much, when and where are the questions that determine their strategies. Any answer, however well researched, is at best a guess, even when coming […]
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What a difference (almost) two years can make. In September 2019, hoping to provoke discussion about what the offshore oil and gas industry has done for Newfoundland and Labrador, I submitted an opinion column to CBC. Subsequently, I was invited to speak with Ted Blades on On The Go. I did so as I was […]
ST. JOHN’S, N.L. — The Newfoundland and Labrador Oil and Gas Industries Association (Noia) says a deadline of June 15 has been set for a decision on whether the Terra Nova floating production, storage and offloading (FPSO) vessel is to continue with its work in the offshore or hit the retirement button. A Noia news […]
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