N.L., Equinor announce $6.8B offshore deepwater oil project

Newfoundland and Labrador and Equinor Canada have announced an agreement to develop the Bay du Nord oil project — the first remote, deepwater project in the province’s offshore. The province is buying 10 per cent of the project, which should bring in $3.5 billion in government revenues and will cost $6.8 billion to develop. “Today marks the global recognition of Newfoundland and Labrador as a preferred location for deepwater production,” said Premier Dwight Ball Thursday morning.,, Ball was joined by Natural Resources Minister Siobhan Coady and Unni Fjaer, a vice-president with Equinor Canada — previously known as Statoil. >click to read<14:17

This site uses Akismet to reduce spam. Learn how your comment data is processed.