ExxonMobil is gearing up to drill an exploratory deepwater oil well named Persephone, situated about 500 kilometers off the eastern coast of Newfoundland in the Orphan Basin. This area lies north of the Flemish Pass Basin, where Equinor is considering developing the country’s first deepwater oil production operation called “Bay du Nord.” The drilling will […]
Read moreNewfoundland and Labrador stands ready to boost the local economy and help the world overcome its energy supply challenges—that is, provided that policymakers in St. John’s seize the moment. Recent geopolitical events, including sanctions on Russia and disruptions in the Red Sea, underscore the province’s potential to boost the local economy and bolster global energy […]
Read moreThe Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) has revised its estimates for the Cambriol discovery within the Flemish Basin, now assessing it to contain 340 million barrels of oil. This update could significantly boost the total recoverable oil for the Bay du Nord project, which has been delayed up to three years due to […]
Read moreThe oil and gas industry in Newfoundland and Labrador is hopeful about the revival of the stalled Bay du Nord project, as Equinor actively seeks cost-effective strategies to push forward. The Norwegian oil giant has issued a call for contractors to help design, build, and operate a floating production and storage vessel (FPSO) and handle […]
Read moreAbout 350 kilometres southeast of St. John’s in the deep blue waters of the Atlantic sits the Terra Nova offshore oil project—an 18-storey-high and three-football-field-long boon to Atlantic Canada’s economy and world energy security. According to St. John’s Mayor Danny Breen, ‘There’s lots of numbers you could use to demonstrate Terra Nova’s contribution to our […]
Read moreNewfoundland and Labrador is projected to see a forecasted economic growth of 3.2%, driven by a rebound in oil production. This resurgence will support the local economy, despite slowdowns in non-oil sectors. New Brunswick is also expected to benefit from rising oil prices that will help maintain economic stability. Despite a cooling global economy, total […]
Read moreIn a striking turnaround from near abandonment, Newfoundland and Labrador’s West White Rose oil project is flourishing again, now 83% complete at the Port of Argentia. Spearheaded by Cenovus Energy with partners including Suncor Energy and Newfoundland and Labrador’s own OilCo, the project employs nearly 1,000 workers on a massive concrete gravity structure destined to […]
Read moreOn September 17, 2023, Irving Oil commenced a significant maintenance initiative, known as “Operation Ram”, at its Saint John refinery. The project represented a $190 million investment aimed at enhancing the facility’s safety, sustainability, and reliability. This major turnaround, one of the largest private capital investments in Atlantic Canada, lasted 7 weeks and employed 2,300 […]
Read moreChief Mi’sel Joe of the Miawpukek First Nation is pushing for the export of LNG from Newfoundland and Labrador to Europe, challenging Canadian Prime Minister Trudeau’s skepticism about the viability of such exports from Canada’s East Coast. While Trudeau favors routing natural gas through the U.S. for liquefaction, Chief Joe plans direct negotiations with Germany […]
Read moreEquinor 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 […]
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