US EditionFate of Bay du Nord oilfield in Newfoundland still unclear as Equinor delays deadline
Equinor delays Bay du Nord's next decision pending a benefits agreement with Newfoundland and Labrador's new government, targeting a 2027 final investment decision for the $14 billion project.
- Equinor said Tuesday it adjusted a December deadline to negotiate a benefits agreement with Newfoundland and Labrador, as Erika Kelland said, `A framework agreement with the government of Newfoundland and Labrador is essential to advance Bay du Nord to its next decision gate.`
- A formal benefits agreement is blocking Decision Gate 2, because Equinor said the condition has not been achieved and the company wants to allow Premier Tony Wakeham's Progressive Conservative government time to settle after October.
- Energy and Mines Minister Lloyd Parrott said teams are meeting nearly daily and negotiations are progressing "very well," and Equinor said it remains on track for a 2027 final decision and first oil in 2031.
- The delay touched off a political spat as Opposition Liberals said it was unacceptable to learn about the delay from media, while the Progressive Conservative government presses for local topsides and TradesNL had endorsed the PCs.
- If advanced, Bay du Nord would require about $14 billion investment, target about 400 million barrels initially, and be Canada's first deepwater oil development discovered 500 kilometres east of St. John's.
11 Articles
11 Articles
Bay du Nord benefits agreement talks going 'extremely well,' says minister
A political dust-up erupted in Newfoundland and Labrador on Tuesday over the status of the Bay du Nord oil project, with the government insisting that talks with Equinor are "moving ahead very well, extremely well."
Fate of Bay du Nord oilfield in Newfoundland still unclear as Equinor delays deadline
Equinor has delayed a deadline to decide whether it will proceed with its proposed Bay du Nord offshore oilfield in Newfoundland and Labrador, as it hammers out a benefits agreement with the province.
Bay du Nord offshore oil project in N.L. still unclear as Equinor delays deadline
ST. JOHN’S — Equinor has delayed a key progress target as it decides whether to proceed with its proposed Bay du Nord offshore oil project in Newfoundland and Labrador. The Norwegian energy company said Tuesday that a status deadline — referred to as a “decision gate” by the company — initially set for December has […]
Equinor extended the deadline to decide whether or not to proceed with its Northern Bay offshore oil field project in Newfoundland and Labrador, while finalizing an economic benefits agreement with the province.
Energy Minister says Bay du Nord is Moving Ahead as Talks Continue on Benefits Agreement
The Minister of Energy says Bay du Nord is moving ahead, and active conversations are underway on a benefits agreement for the project. Lloyd Parrott spoke with reporters Tuesday after the Opposition Liberals questioned the status of the project. Parrott says the Liberals are wrong when they suggest that the project is stalled, and the premier has met with Equinor five times since he was elected in the fall – adding that he’s met with company of…
Equinor has postponed the deadline for its decision. The post What will happen to the Bay du Nord oil field in Newfoundland? appeared first on Les Affaires.
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