Newfoundland and Labrador

The UK supermajor is selling off its Sunrise oil sands stake for cash, interest in the undeveloped Bay du Nord complex off Newfoundland.

The project partners and government came together to salvage the stalled East Canada offshore project now due to produce first oil in 2026.

The decision comes after an environmental review showed that the floating production, storage, and offloading vessel-based development was unlikely to cause negative environmental effects.

Deal marks state-owned energy company’s entry into Canada’s offshore sector.

Eastern Canada offshore heats up with Flemish Pass drilling plans

The field's partners, led by operator Suncor, agree to restructure the offshore project ownership to give a boost to plans for life extension.

Expressions of interest released by the operator include everything from abandonment to life extension.

BP was the only operator to place a bid in the Canada-Newfoundland and Labrador Offshore Petroleum Board call for bids, which offered 17 parcels in the eastern Newfoundland region.

Production from the Hibernia platform was shut down again on 17 August after its second oil spill in a month, while Husky Energy began to ramp up output from the White Rose field following the largest-ever spill off Canada’s easternmost province.

Natural Resources Minister Siobhan Coady says the government is open to the idea of an independent safety regulator for the province’s offshore oil and gas industry but is not currently working toward implementation.