Equinor awarded offshore exploration Project in Canada

Equinor and its partners were the successful bidders for new exploration parcels in the prolific Jeanne d’Arc basin

Equinor and its partners were the successful bidders for new exploration parcels in the prolific Jeanne d’Arc basin, offshore Newfoundland and Labrador.

Equinor will operate two exploration parcels, NL18-CFB01-14 (Equinor Canada 70 percent, Husky Energy 30 percent); and NL18-CFB01-15 (Equinor Canada 60 percent, Suncor Energy 40 percent).

Overall, the area covers 4,126 square kilometers. In addition, Equinor will participate in the Suncor Energy-operated parcel NL18-CFB02-01. The company will hold a 30 percent interest, with Husky Energy controlling another 30 percent and the remaining 40 percent going to Suncor Energy.

“We are pleased to have secured significant acreage and new exploration opportunities offshore Canada. The successful bids aligns with Equinor’s strategy of developing our position in prolific basins,” said Tim Dodson, Equinor’s executive vice president for exploration.

Its stake in the Jeanne d’Arc Basin enables the company to expand its reach in North America, which is in line with the company’s objectives.

“These exploration investments provide Equinor an important opportunity to advance our position in a region where we have a well-established exploration portfolio while we continue to evaluate and mature our existing exploration assets in the Flemish Pass Basin,” said Dodson.

Presence in Canada

Equinor has been active in Canada since 1996 and operates the 2013 Bay du Nord discovery, located in the Flemish Pass Basin. It also holds a stake in other exploration fields in this basin, including the Mizzen, Harpoon, Baccalieu, and Bay de Verde.

Equinor also holds an extensive exploration and partner-operated development position offshore Newfoundland; with partnership interests in the producing Hibernia, Terra Nova and Hebron fields.

Jeanne d’Arc Basin

Offshore basin Jeanne d’Arc is located 340 kilometers off the coast of Newfoundland and Labrador. It is a prolific hydrocarbon region that has been explored for approximately 40 years.

Significant discoveries have been made in this basin since 2009 and several companies are currently developing projects on this site.

There have been eighteen officially declared Significant Discoveries in the Jeanne d'Arc Basin and on the adjacent area.

Furthermore, it had four operative oil fields back in 2012: Hiberia, Terra Nova, White Rose, and North Amenthyst.

The Hibernia stands out for being the world’s largest platform by weight. It consists of a 37,000 t (41,000 short tons) integrated topsides facility mounted on a 600,000 t (660,000 short tons) gravity base structure. Additionally, it has another 450,000 tons of solid ballast were added to secure it in place.

The structure contains storage tanks with a capacity of up to 1.3 million crude barrels.

For more information, check Energía16

See also: Petrobras could sell $20 billion in assets in 2019

Load More Related Articles
Load More By Energía 16
Load More In Oil & Gas

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also

Iberdrola and AVIA to install over 500 EV fast chargers

Iberdrola and AVIA announced an agreement to expand their collaboration and install more t…