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Saturday, May 30th, 2020

Terra Nova oilfield will reportedly shut down through 2022

Premier Dwight Ball says ‘offshore industry has undergone tremendous challenges’

Premier Dwight Ball says the Terra Nova oilfield has been “extremely important” for Newfoundland and Labrador, amid reports that Suncor is shutting down production there until 2022.

Ball was responding to a question from the business news website Allnewfoundlandlabrador.com, which broke the news, at the province’s COVID-19 news conference Tuesday afternoon.

“We’re working very closely with Terra Nova. I just had a conversation with our minister, just prior to coming to this media availability today. It’s recent news,” Ball told reporters.

“Of course the offshore industry has undergone tremendous challenges, within the past few months, in terms of the price of oil and of course with Terra Nova they’ve had some other challenges as well.”

The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB), which regulates the industry, steered CBC News inquiries to Suncor, which did not immediately respond to messages left earlier this afternoon.

Source: CBC News | This text was excerpted from the media outlet cited on May 12, 2020 and is provided to Noia members for information purposes only. Any opinion expressed therein is neither attributable to nor endorsed by Noia.