The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) said Feb. 2 it issued significant discovery license 1060 to Equinor Canada Ltd. for its Cambriol G-92 discovery.

C-NLOPB said recoverable oil volumes from the Cambriol G-92 discovery in the Flemish Pass Basin are estimated at 340 MMbbl.

The discovery is close to the Equinor-operated Bay du Nord project, which Equinor and BP decided in May 2023 to postpone developing for up to three years. If Bay du Nord is developed, Equinor has said its nearby Cambriol and Cappahayden discoveries, in about 650 m water depth, could be tied back to it.

Equinor holds 60% in the license while partner BP Canada Energy Group ULC holds 40% interest.

Bay Du Nord Map
Equinor’s Cambriol discovery is near the stalled Bay du Nord project in the deepwaters offshore Newfoundland. (Source: Equinor)