Wakeham says a key part of the agreement is $200 million in fabrication funds, which will be used to secure capital to build a large floating dry dock at Bull Arm.
This province has reached a major milestone with its first new standalone offshore oil and gas development since Hebron. Yesterday, Premier Tony Wakeham announced an agreement with Equinor and BP to advance the Bay du Nord project, which had been paused for up to three years in 2023.
The agreement will provide up to $6.4 billion in direct revenue to the province in the first phase of the project. Wakeham says a key part of the agreement is $200 million in fabrication funds, which will be used to secure capital to build a large floating dry dock at Bull Arm.
The Bay du Nord project will result in over 31 million person-hours of work over 25 years. It has estimated resources of nearly 430 million barrels. Project sanction is targeted for 2027, with first oil expected in 2031.
Tip of a possible impaired driver
Channel-Port aux Basques RCMP and Traffic Services West took three vehicles off the road and laid charges during a traffic initiative late last week.
At this week’s public meeting, Corner Brook city hall approved another change order for the Deep Gulch Culvert Replacement Project at a cost of over $91K.
Health Minister says there ia "disturbing information on how money was spent on agency nurses"
RCMP stop woman with expired license on Route 430 and find crack cocaine
