Equinor unveils drilling program for 200,000 b/d Bay du Nord Canadian oil project

Equinor Canada is preparing to launch an exploration drilling program in the summer of 2024 for its Bay du Nord oil project located offshore Newfoundland and Labrador. The drilling will focus on the Sitka prospect within the Flemish Pass Basin using the Hercules semi-submersible rig. The project has been delayed by up to three years due to challenging market conditions, aiming for better project conditions. Bay du Nord, projected to be Canada’s first deep-water project, will potentially feature a floating production, storage, and offloading (FPSO) facility and is estimated to hold 300 million barrels of oil. Concurrently, the FPSO serving the Terra Nova field is being moved to its site, anticipating a restart of production later in the year after significant overhauls. 

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