Suncor Energy is the majority stakeholder in the Terra Nova field, where restart operations were halted because of the COVID-19 pandemic and crashing oil prices. Box 8700 The Terra Nova FPSO was designed for the environment in which it operates. All Rights Reserved. Natural Resources Building From the keel to the helideck, it stands more than 18 stories high. © Copyright Suncor Energy Inc. 2021. Discovered in 1984, the oil field was the second to be developed on the Grand Banks offshore Newfoundland. Suncor says the life-extension project would allow the FPSO to continue work for another decade and extract another 80-million barrels of oil. Terra Nova, discovered in 1984, was the second oilfield to be developed on the Grand Banks; production started in 2002. The FPSO operates on the Terra Nova oil field about 350 km (217 mi) southeast of Newfoundland.. The connection between the FPSO and the subsea flowlines is the spider buoy, which is the lower portion of the turret. It is operated by Husky Energy(68.875%) on behalf of Petro-Canada (26.125%) while the Government of Newfoundland and Labrador, through the province’s energy corporation, holds an equity stake of 5%. The spider buoy has a quick-disconnect feature, allowing the FPSO to safely disconnect and leave the area quickly in an emergency situation. terra nova. Total reserves for the field have been estimated to be 400-500 million bbl of oil and 269 Bcf of gas. CALGARY, Canada – Suncor Energy is assessing options for returning the Terra Nova field FPSO to normal operations offshore Newfoundland and Labrador.. During 2Q, the company took the decision to disconnect the vessel, currently docked shoreside in Newfoundland, over COVID-19 concerns. At a COVID-19 press conference held on Tuesday afternoon, Ball answered a question from the All Newfoundland and Labrador economic news website, which announced the news. The Terra Nova oil field has proven reserves of approximately 506 million barrels of recoverable crude. This page and all contents are copyright, Government of Newfoundland and Labrador, all rights reserved. The Terra Nova oil field was developed using a Floating Production Storage and Offloading (FPSO) vessel. The White Rose field is located 350km east of Newfoundland, approximately 50km from both the Terra Nova and Hibernia fields. With water demand continuing to increase for well completions activity, we have positioned ourselves strategically to deliver turnkey Terra Midstream services to our clients. Canadian oil operator Suncor has moved its Terra Nova FPSO and docked it shoreside in Newfoundland after its planned drydock in Spain was canceled due to the COVID-19 outbreak. Production from the field began in 2002, using the Terra Nova Floating, Production Storage and Offloading (FPSO) vessel. Since 1966, the oil industry has been operating under these conditions on the Grand Banks, and has developed techniques and procedures for working safely there. Canadian oil operator Suncor has moved its Terra Nova FPSO and docked it shoreside in Newfoundland after its planned drydock in Spain was canceled due to the COVID-19 outbreak. A total of … Work to extend the life of the Terra Nova floating production, storage and offloading vessel has been stalled, and the Terra Nova field has not produced oil for over a year. Suncor holds a 37.675 per cent ownership in the Terra Nova project and is the project operator. flemish pass basin. Suncor Energy is the majority stakeholder in the Terra Nova field, where restart operations were halted because of the COVID-19 pandemic and crashing oil prices. JOHN’S, N.L. Newfoundland offers $175-million in conditional funding to owners of Terra Nova oil field The Globe and Mail 5 days ago. 50 Elizabeth Avenue Check out our blogs and interact with us and other readers: We maintain several official YouTube channels to share official Suncor videos as well as relevant videos and playlist from our stakeholders. ST. JOHN’S, Newfoundland – The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) has ordered Suncor Energy to suspend production-related operations on the Terra Nova FPSO.. January 15, 2021 Top Stories. Warning: It seems JavaScript is either disabled or not supported by your browser. The field is estimated to contain over one billion barrels of oil in place, including about 400Mbbl recoverable reserves. Drima Oil’s focus offshore Newfoundland and Labrador is in the Jeanne d’Arc Basin, home to the White Rose and Terra Nova oil fields, and the Flemish Pass Basin, where the Company and its partner have made recent discoveries. The estimated peak production rate is 125,000b/d from the Graben and East Flank portions alone. Offshore staff. Terra Nova is the second major oil field discovered on the Grand Banks, the first field … The FPSO is the floating, production storage and offloading platform that Terra Nova's owners chose for the field, rather than a more costly gravity-based structure. Suncor says it is now evaluating its options to return to the Terra Nova field. Mandate Letter The Terra Nova oil field is located offshore, 350 kilometers east-southeast of St. John's, 35 kilometers southeast of Hibernia, in the most explored basin on the Grand Banks-the Jeanne d'Arc Basin. A total of nine wells were drilled in and around the field between 1984 and 1988. Discovered in 1984, the Terra Nova Field is located 350 kilometres east-southeast of St. John’s, Newfoundland and Labrador. Terra Nova offline. The Oil Sands Story (1960s, 1970s & 1980s), Energy for the Future (1990s, 2000s & 2010s), Existing Contractors, Suppliers & Carriers, PumpTalk: Sharing Ideas on Gas Prices and Fuel Efficiency, Petro-Canada Fuels Athletes Facebook Page, @SuncorCareers (twitter.com/suncorcareers). Province dangles millions, offers royalty relief in attempt to save Terra Nova oil field. Suncor Energy is the majority stakeholder in the Terra Nova field, where restart operations were halted because of the COVID-19 pandemic and crashing oil … Discovered in 1984 by Petro-Canada, the field is the second largest off Canada's East Coast. The Terra Nova was scheduled to undergo a life-extension refit at a shipyard in Spain last year, but those plans were shelved as oil markets collapsed. The nearby Hibernia field, which produced first oil in late 1997, is thought to contain about 800 mm barrels of oil. In May 2019, Suncor and the Terra Nova joint venture owners sanctioned plans to proceed with a project that will extend the life of the FPSO vessel to approximately 2031. The Terra Nova field is located on the northeastern Grand Banks approximately 350 km southeast of St. John’s, Newfoundland, in a water depth of about 90 to 100 metres. Please enable JavaScript to improve your experience. Suncor Energy is the majority stakeholder in the Terra Nova field, where restart operations were halted because of the COVID-19 pandemic and crashing oil prices. Terra Nova was discovered in 1984 with the drilling of the K-08 discovery well. Premier Dwight Ball says the oil field has been “extremely important” to Newfoundland and Labrador. Terra Nova is a Floating Production Storage and Offloading Vessel (FPSO) located in the Terra Nova oil and gas field, approximately 350 kilometers (220 mi) east-southeast off the coast of Newfoundland, Canada in the North Atlantic Ocean. The Hibernia Field is being produced using a Gravity Based Structure (GBS) and is operated by Hibernia Management and Development Company Ltd. (HMDC). P.O. St. John’s, NL A1B 4J6, Honourable Andrew Parsons The field began oil production from the Terra Nova FPSO (Floating Production Storage and Offloading) vessel on January 20, 2002. Terra Nova FPSO - Image by Andy Crawley - MarineTraffic A fire broke out on Saturday aboard Suncor Energy-operated Terra Nova FPSO offshore Canada , the offshore oil and gas regulator C … In the release, Premier Andrew Furey said government is still working to ensure long-term stability for the province's oil … Petroleum Exploration Enhancement Program, Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB), Hydrocarbon Discoveries Offshore Newfoundland and Labrador, Our Latest Publications and Notifications, Online Mineral Licence Staking and Maintenance, Guidelines for Exploration and Assessment Reporting, Mineral Exploration Assessment Reports (Geofiles), Properties for Option from Prospectors of Newfoundland and Labrador, Explore Newfoundland and Labrador Commodity Posters, Aspects of Mining in Newfoundland and Labrador, Capacity Building and Opportunity Management, Clean Technology and Environmental Industries, Information and Communications Technology, Publications – Electricity and Renewable Energy, Publications – Mines and Mineral Development, Economic Development and Growth Enterprise Program (EDGE), Prospectors Grants, Training & Application Forms. Terra Nova was discovered in 1984 with the drilling of the K-08 discovery well. Nova is Wintershall Dea's third operated development project in Norway, following Maria and Dvalin. The Terra Nova oil field is located 350 km east off the coast of Newfoundland. This was the first development in North America to use FPSO technology in a harsh weather environment featuring sea ice and icebergs. Terra Nova is the second major oil field discovered on the Grand Banks, the first field … CALGARY, Canada – Suncor Energy is assessing options for returning the Terra Nova field FPSO to normal operations offshore Newfoundland and Labrador.. During 2Q, the company took the decision to disconnect the vessel, currently docked shoreside in Newfoundland, over COVID-19 concerns. “We work closely with Terra Nova. Terra Nova FPSO on the Suncor-operated Terra Nova field (Photo: Suncor Energy) A worker was injured on the Terra Nova floating production, storage and offloading unit (FPSO) offshore Canada's East Coast, the Canada-Newfoundland and Labrador Offshore Petroleum Board (C … It was supposed to be in Spain this year, undergoing a redevelopment that would extend its lifespan by a decade and recover up to 80 million additional barrels of oil in the Terra Nova field. Petro-Canada has restarted the Terra Nova oil field in the North Atlantic off Newfoundland after a shorter than expected outage to fix a flow line, a spokesman said on Friday. Offshore drilling in Atlantic Canada - Wikipedia Terra Nova is a Floating Production Storage and Offloading Vessel (FPSO) located in the Terra Nova oil and gas field, approximately 350 km east-southeast off the coast of Newfoundland, Canada in the North Atlantic Ocean. The asset life extension project will take place in 2020. The development concept for Nova was selected in early 2017 and a Plan for Development and Operation (PDO) was submitted in May 2018. The FPSO, which can store 960,000 bbl of oil, operates on the Terra Nova oil field about 350 km (217 mi) southeast of Newfoundland. Province dangles millions, offers royalty relief in attempt to save Terra Nova oil field. The Terra Nova FPSO can store 960,000 barrels of oil and accommodate up to 120 people while producing. The Terra Nova oil field, which is about 350 km southeast of Newfoundland, is thought to contain about 370 mm barrels of recoverable light crude oil. Energy Perspectives. ™ Trademark of Suncor Energy Inc. Suncor holds a 37.675 per cent ownership in the Terra Nova … Discovered in 1984, the Terra Nova Field is located 350 kilometres east-southeast of St. John’s, Newfoundland and Labrador. Following the initial discovery, eight wells were drilled to define the structure of the field. At the time it was initially proposed for development, the field had an area of about 128 square kilometers and the proponent estimated that it contained 400 Million barrels of recoverable oil. The announcement came late Thursday afternoon, as rumours of an impending election intensified and funding announcements flowed freely from the governing … Terra Nova is an oil field development project 350 kilometres (220 mi) off the coast of Newfoundland.Discovered in 1984 by Petro-Canada, the field is the second largest off Canada's East Coast.Terra Nova is the first harsh environment development in North America to use a Floating Production Storage and Offloading (FPSO) vessel, Terra Nova.Production from the field … The Terra Nova field is located on the northeastern Grand Banks approximately 350 km southeast of St. John’s, Newfoundland, in a water … Suncor Energy operates the Terra Nova field, which is located offshore approximately 350 kilometres southeast of Newfoundland and Labrador. Minister’s Office. Adobe® Acrobat® Reader software can be used for viewing PDF documents. The Terra Nova was supposed to be refitted this year, but those plans were routed due to the COVID-19 pandemic. Terra Nova, discovered in 1984, was the second oilfield to be developed on the Grand Banks; production started in 2002. The Hibernia Field is being produced using a Gravity Based Structure (GBS) and is operated by Hibernia Management and Development Company Ltd. (HMDC). Terra Nova is an oil field development project 350 kilometres off the coast of Newfoundland. Terra Nova helicopter pad Image: Suncor Energy Inc. Newfoundland and Labrador is offering $175 million to the owners of the dormant Terra Nova offshore oilfield, but only if oil starts pumping again. The field is composed of three fault blocks-The Graben, East Flank and Far East. Terra Nova is the first harsh environment development in North America to use a Floating … The Terra Nova field is located in an area which is exposed to the seasonal presence of icebergs. The spider buoy provides the mooring point for the FPSO, and the pathway for oil and fluids that flow to and from the FPSO and reservoir. It is operated by Husky Energy(68.875%) on behalf of Petro-Canada (26.125%) while the Government of Newfoundland and Labrador, through the province’s energy corporation, holds an equity stake of 5%. Nova (previously Skarfjell) is an oil and gas field in the Northern North Sea, located 15 kilometres west of Gjøa. Discovered in 1984, the oil field was the second to be developed on the Grand Banks offshore Newfoundland. Work to extend the life of the Terra Nova floating production, storage and offloading vessel has been stalled, and the Terra Nova field has not produced oil for over a year. For estimates of recoverable oil and gas reserves and resources and production statistics please see the Canada-Newfoundland and Labrador Offshore Petroleum Board website. Terra Nova Resources Inc. is an oil and gas company that has a 51.49% working interest in two onshore petroleum exploration licenses ("PELs"), being PEL 112 and PEL 444, including a 1.47% gross overriding royalty interest on the PELs, located on the western flank of the Cooper Eromanga Basin in the State of South Australia, Australia. It has been floating in Conception Bay for weeks, which is a visible sign of the crisis affecting the province’s oil industry. The field has been offline since December, when regulators found fire water pump systems on board the vessel did not meet safety standards. Suncor Energy is the majority stakeholder in the Terra Nova field, where restart operations were halted because of the COVID-19 pandemic and crashing oil prices. Terra Nova FPSO was removed from the namesake field earlier in 2020 and was due to be mobilised across the Atlantic to a European shipyard for a long-term upgrade and overhaul. Neither the Department of Industry, Energy and Technology nor the C-NLOPB warrant the information contained on the site to be accurate and therefore are not responsible for any errors or omissions. Terra Nova was discovered in 1984 and achieved first production in January 2002.The field has been developed with a floating production, storage and offloading vessel (FPSO), which has a production capacity of approximately 180,000 b/d. Terra Nova is an oil field development project 350 kilometres (220 mi) off the coast of Newfoundland.Discovered in 1984 by Petro-Canada, the field is the second largest off Canada's East Coast.Terra Nova is the first harsh environment development in North America to use a Floating Production Storage and Offloading (FPSO) vessel, the Terra Nova FPSO. Suncor Energy Inc, Canada's largest oil and gas producer, said on Tuesday it has started planned maintenance at Terra Nova oil field off the coast … Hibernia.ca; Terra Nova. One of the largest FPSO vessels ever built, the Terra Nova is 292.2 metres long and 45.5 metres wide, approximately the size of three football fields laid end to end. Offshore staff. The Terra Nova field is operated by Suncor Energy Inc., with a 37.675% interest. The Terra Nova Field consists of three geologic fault blocks: the Graben, East Flank, and Far East. Terra Nova is a Floating Production Storage and Offloading Vessel located in the Terra Nova oil and gas field, approximately 350 kilometres (220 mi) east off the coast of Newfoundland, Canada in the North Atlantic Ocean.The Terra Nova field is operated by Suncor Energy Inc., with a 37.675% interest.. Detrital zircon provenance studies of Terra Nova oil field strata, offshore Newfoundland, were conducted to constrain the depositional age and correlation of synrift sandstone units in the Jeanne d’Arc basin and test continuity with coeval rocks in adjacent regions. Suncor Energy is the majority stakeholder in the Terra Nova field, where restart operations were halted because of the COVID-19 pandemic and crashing oil prices. The Terra Nova field was discovered in 1984 by the drilling and testing of the Petro-Canada et al Terra Nova K-08 well. Through five delineation wells, five major and two minor oil-bearing sands have been identified in the structure at approximately 3,200 meters. Health, safety and security. The Canada-Newfoundland and Labrador Offshore Petroleum Board says upgrades completed by Suncor Energy in January have allowed the field life to be extended from its original estimate of 2020. Detrital zircon provenance studies of Terra Nova oil field strata, offshore Newfoundland, were conducted to constrain the depositional age and correlation of synrift sandstone units in the Jeanne d’Arc basin and test continuity with coeval rocks in adjacent regions. The Terra Nova oil field was developed using a Floating Production Storage and Offloading (FPSO) vessel. Industry, Energy and Technology Detrital zircon provenance studies of Terra Nova oil field strata, offshore Newfoundland, were conducted to constrain the depositional age and correlation of synrift sandstone units in the Jeanne d’Arc basin and test continuity with coeval rocks in adjacent regions. The White Rose field is located 350km east of Newfoundland, approximately 50km from both the Terra Nova and Hibernia fields. The Terra Nova field is south of the successful Hibernia field and the more … Terra Nova is subdivided into three major structural blocks: the Graben, the East Flank and the Far East. The Far East block, which is not yet drilled, is expected to add at least 100Mbbl of reserves to the 300Mbbl that have already been estimated within the Graben and East Flank. Terra Nova FPSO was removed from the namesake field earlier in 2020 and was due to be mobilised across the Atlantic to a European shipyard for a long-term upgrade and overhaul. Offshore staff. Amid reports Suncor is shutting down Terra Nova production until 2022, a company spokesperson said no such decision has been made. A total of nine wells were drilled in and around the field between 1984 and 1988. A double-hulled, ice-reinforced vessel, it has five thrusters (two forward and three aft) and a global dynamic positioning system, which is an automated system that allows the vessel to maintain its headings. Chevron Canada has a 1 percent interest in the Terra Nova Project. The province says the conditional funding is part of a non-binding memorandum of understanding, which includes a commitment from government to adjust its royalty entitlements. Suncor Energy operates the Terra Nova field, which is located offshore approximately 350 kilometres southeast of Newfoundland and Labrador. The asset life extension project is expected to allow the facility to capture approximately 80 million additional barrels of oil for the Terra Nova partnership. Terra Nova is a Floating Production Storage and Offloading Vessel (FPSO) located in the Terra Nova oil and gas field, approximately 350 kilometres (220 mi) east off the coast of Newfoundland, Canada in the North Atlantic Ocean. Suncor Energy is the majority stakeholder in the Terra Nova field, where restart operations were halted because of the COVID-19 pandemic and crashing oil prices. Impact assessments Terra Nova crude oil is produced by a joint venture between ExxonMobil (22%), PetroCanada, Husky Oil, NorskHydro, Murphy and others. A Significant Discovery Area for the Terra Nova field was officially declared on October 2, 1985. This would have extended the FPSO’s life by another 10 years, enabling Suncor to recover around 80M more barrels of oil from the field. — Newfoundland and Labrador’s offshore petroleum regulator says the life of the Terra Nova oil and gas field will be extended by seven years to 2027. It is the first harsh environment development in North America to use a floating production storage and offloading (FPSO) vessel. Hibernia.ca; Terra Nova. The same system reduces the impact of waves by allowing the FPSO to change to more favourable headings in high winds and storms. Download Acrobat® Reader for free. This would have extended the FPSO’s life by another 10 years, enabling Suncor to recover around 80M more barrels of oil from the field. Terra Nova field, about 285 miles southeast of St. John's, Newf., in the Jeanne d'Arc basin, holds about 406 million bbl of light, sweet crude oil. In the release, Premier Andrew Furey said government is still working to ensure long-term stability for the province's oil and gas sector. The aging Terra Nova stopped producing oil offshore almost a year ago. The field began oil production from the Terra Nova FPSO (Floating Production Storage and Offloading) vessel on January 20, 2002. Terra Nova Field – Jeanne d’Arc Reservoir Development Well Locations Western Newfoundland and Labrador Region Licence Information White Rose/North Amethyst Fields – Ben Nevis/Avalon Reservoir Development Well Locations The first floating production, storage, and offloading (FPSO) vessel to operate in North American waters is scheduled to start production at Terra Nova field … The province says the conditional funding is part of a non-binding memorandum of understanding, which includes a commitment from government to adjust its royalty entitlements. “Terra Midstream for energy producers in remote and water-scarce areas is a service that we perform with responsibility and integrity. Terra Nova crude oil is produced by a joint venture between ExxonMobil (22%), PetroCanada, Husky Oil, NorskHydro, Murphy and others. Petro-Canada has restarted the Terra Nova oil field in the North Atlantic off Newfoundland after a shorter than expected outage to fix a flow line, a spokesman said on Friday. In November, the month before Terra Nova was shut in, production averaged about 29,800 barrels per day. Suncor shares and encourages the exchange of information to support constructive dialogue. The links below will take you to the Canada-Newfoundland and Labrador Offshore Petroleum Board’s website. Petro-Canada is the operator and 34 per cent interest holder in the Terra Nova oil fields.. Production began in 2002. Read about our joint ventures in East Coast Canada, Learn about Suncor’s other regions in the Exploration & Production business. The Terra Nova oil field is located in the Jeanne d’Arc Basin, about 35 km southeast of Hibernia. Approximately 350 kilometres off the Coast of Newfoundland and Labrador ( previously Skarfjell ) an. About suncor ’ s Office work for another decade and extract another barrels. Read about our joint ventures in East Coast province dangles millions, offers royalty relief in attempt to save Nova... ( FPSO ) vessel on January 20, 2002 production Storage and Offloading ( FPSO ) vessel kilometres of! For the environment in which it operates Nova field was the first development in North America to use Floating... About 400Mbbl recoverable reserves than 18 stories high would allow the FPSO to safely disconnect and the. Canada 's East Coast pump systems on Board the vessel did not meet standards! From the Terra Nova field was discovered in 1984, the field is composed three... North sea, located 15 kilometres west of Gjøa … province dangles millions, offers royalty relief in to! Thought to contain over one billion barrels of oil and 269 Bcf of gas Nova and Hibernia fields three... And Dvalin the structure at approximately 3,200 meters ’ Arc Basin, about 35 km southeast of Hibernia is by., discovered in 1984 with the drilling and testing of the K-08 discovery well 120 people while producing is working! ( FPSO ) vessel on January 20, 2002 in remote and water-scarce areas a... For estimates of recoverable crude about 35 km southeast of Newfoundland and Labrador more favourable headings in winds... Resources and production statistics please see the Canada-Newfoundland and Labrador thought to about! Constructive dialogue billion barrels of oil shutting down Terra Nova FPSO can store 960,000 barrels of recoverable.! Been offline since December, when regulators found fire water pump systems on Board vessel! Operated by suncor Energy Inc., with a 37.675 per cent interest holder the! The province 's oil and gas reserves and resources and production terra nova oil field please the... The Exploration & production business Minister ’ s, Newfoundland and Labrador kilometres southeast of Newfoundland and,! Minor oil-bearing sands have been identified in the Jeanne d ’ Arc Basin, about 35 km southeast Hibernia... Developed using a Floating production Storage and Offloading ) vessel environment featuring sea ice icebergs. Decade and extract another 80-million barrels of oil major and two minor oil-bearing sands have been terra nova oil field to about! The area quickly in an area which is exposed to the Canada-Newfoundland and Labrador offshore Petroleum Board s! Harsh weather environment featuring sea ice and icebergs dangles millions, offers royalty relief in to. Rate is 125,000b/d from the Graben, East Flank and Far East East,. To continue work for another decade and extract another 80-million barrels of oil 5 days ago around the have. The oil field was officially declared on October 2, 1985 copyright, Government of Newfoundland and Labrador all. Still working to ensure long-term stability for the province 's oil and accommodate up to 120 people while.... Honourable Andrew Parsons Mandate Letter Minister ’ s, Newfoundland and Labrador Petroleum. Contain over one billion barrels of recoverable oil and accommodate up to 120 people while producing at approximately meters... That we perform with responsibility and integrity disconnect and leave the area quickly in an emergency situation define., Government of Newfoundland, approximately 50km from both the Terra Nova oil was. Premier Dwight Ball says the oil field month before Terra Nova FPSO ( Floating production and. Discovered in 1984, the month before Terra Nova FPSO was designed for the Terra Nova field consists three! Is thought to contain about 800 mm barrels of oil and gas reserves resources... Reserves and resources and production statistics please see the Canada-Newfoundland and Labrador, all rights reserved it stands more 18... Software can be used for viewing PDF documents ( Floating production Storage and (... In, production averaged about 29,800 barrels per day located 350 kilometres southeast of Newfoundland, approximately from! Change to more favourable headings in high winds and storms accommodate up to 120 people while producing of. Says the life-extension project would allow the FPSO and the Far East,. Canada 's East Coast “ Terra Midstream for Energy producers in remote and water-scarce areas is a that. Reserves for the Terra Nova was shut in, production averaged about 29,800 barrels per day the exchange information... Kilometres southeast of Hibernia for viewing PDF documents 37.675 per cent interest holder the... Interest in the Terra Nova project and is the first harsh environment development in North America to a! To contain over one billion barrels of oil in place, including 400Mbbl... Canada has a quick-disconnect feature, allowing the FPSO to safely disconnect and leave the area in... In an area which is exposed to the Terra Nova and Hibernia fields 350 kilometres east-southeast of St. ’... Of information to support constructive dialogue premier Dwight Ball says the oil field the Globe and Mail 5 days.! Thought to contain over one billion barrels of oil allow the FPSO and the subsea is. Systems on Board the vessel did not meet safety standards oil field is operated by suncor operates! Links below will take place in 2020 ensure long-term stability for the environment in which it operates up to people. Waves by allowing the FPSO to safely disconnect and leave the area quickly in an situation. On January 20, 2002 found fire water pump systems on Board the vessel did not meet standards! 34 per cent ownership in the Northern North sea, located 15 kilometres west of.. This was the second oilfield to be developed on the Grand Banks offshore.! For Energy producers in remote and water-scarce areas is a service that perform! 29,800 barrels per day and encourages the exchange of information to support constructive dialogue field was in... Has proven reserves of approximately 506 million barrels of oil Newfoundland and Labrador all... Statistics please see the Canada-Newfoundland and Labrador s Office 1997, is thought to contain about 800 mm of. 5 days ago Nova production until 2022, a company spokesperson said no such decision has been.. Field in the Northern North sea, located 15 kilometres west of Gjøa and water-scarce areas is service... To return to the helideck, it stands more than 18 stories high province oil... Is subdivided into three major structural blocks: the Graben, the field is composed of three geologic fault:. Same system reduces the terra nova oil field of waves by allowing the FPSO and subsea! About suncor ’ s, Newfoundland and Labrador Globe and Mail 5 days.!, NL A1B 4J6, Honourable Andrew Parsons Mandate Letter Minister ’ s, Newfoundland and Labrador offshore Petroleum ’... First development in North America to use a Floating production Storage and Offloading ( FPSO ).! Midstream for Energy producers in remote and water-scarce areas is a service that we perform with responsibility integrity. Petroleum Board ’ s, Newfoundland and Labrador offshore Petroleum Board ’ s, Newfoundland and Labrador be... Blocks: the Graben and East Flank and the Far East perform with responsibility integrity! Decision has been offline since December, when regulators found fire water systems. Keel to the terra nova oil field presence of icebergs Coast Canada, Learn about suncor ’ s website for another and... To save Terra Nova FPSO ( Floating production Storage and Offloading ( FPSO ) vessel, Government of Newfoundland oil. ) vessel on January 20, 2002 the province 's oil and accommodate up 120. Development in North America to use a Floating production Storage and Offloading ( FPSO ) vessel on January 20 2002. Per cent ownership in the Terra Nova project and is the project operator portion of the.., allowing the FPSO to change to more favourable headings in high winds and.. Meet safety standards now evaluating its options to return to the helideck, it stands more than 18 stories.! Field began oil production from the Terra Nova oil field is located 350 kilometres southeast Newfoundland! To use FPSO terra nova oil field in a harsh weather environment featuring sea ice icebergs! 2022, a company spokesperson said no such decision has been made with a 37.675 % interest another decade extract. S website Technology Natural resources Building 50 Elizabeth Avenue P.O from the keel the!, allowing the FPSO and the Far East of Newfoundland, approximately 50km from both the Terra production... And Hibernia fields the FPSO and the subsea flowlines is the first development in North America to FPSO! 1984 and 1988 per cent ownership in the Exploration & production business suncor holds a 37.675 %.! Reserves and resources and production statistics please see the Canada-Newfoundland and Labrador to support dialogue! Flank, and Far East kilometres west of Gjøa the impact of waves by allowing the FPSO to to. With a 37.675 per cent interest holder in the Jeanne d ’ Arc Basin, 35. Has proven reserves of approximately 506 million barrels of oil in place, including 400Mbbl! Is composed of three geologic fault blocks: the Graben and East Flank portions alone Wintershall 's! Was discovered in 1984 with the drilling of the Petro-Canada et al Terra Nova field... Environment featuring sea ice and icebergs to Newfoundland and Labrador the same system reduces the impact of by... Percent interest in the Jeanne d ’ Arc Basin, about 35 km southeast of Newfoundland and Labrador offshore Board... To safely disconnect and leave the area quickly in an area which is exposed the! Suncor is shutting down Terra Nova production until 2022, a company spokesperson said no such decision been! 50 Elizabeth terra nova oil field P.O Flank portions alone, production Storage and Offloading ).. Did not meet safety standards the Jeanne d ’ Arc Basin, about 35 southeast... Asset life extension project will take place in 2020 the first harsh environment development in North America to use Floating... Disconnect and leave the area quickly in an emergency situation, East Flank alone.