Issued March 18, 2020
Equinor and partner Husky Energy have decided to defer the Bay du Nord development project offshore Canada to make the project more robust for low commodity prices. The energy industry has been impacted by the deep fall in the price of oil and the sharp economic downturn as countries scale down their activities to limit the spread of the virus.
Bay du Nord remains an important part of our international project portfolio and Equinor will now take the time to further improve the project business case and assess the duration of this deferral. The project will continue its planning based on an FPSO concept and will progress the ongoing evaluations of existing tenders. Equinor will develop an adjusted work program according to new timelines.