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Suncor Energy has safely restarted the Terra Nova FPSO following the completion of the Terra Nova Asset Life Extension project, the company said in a Nov. 27 press release.
Production is expected to ramp up over the coming months.
“Focusing on safety and operational integrity, we have brought this key offshore project online, providing additional cash flow for our shareholders as well as many benefits to the Newfoundland and Labrador and Canadian economies," said Rich Kruger, Suncor president and CEO. "We appreciate the collaboration and support from the provincial and federal governments regarding this project."
Terra Nova is an oil field located offshore Newfoundland and Labrador approximately 350 km southeast of St. John's. The Terra Nova Partners are Suncor with a 48% stake; Cenovus with 34%; and Murphy Oil Corp. with 18%.
2024-02-06 - Imperial Oil expects the completion of the Trans Mountain Pipeline expansion to tighten WCS and WTI light and heavy oil differentials and boost its access to more lucrative markets in 2024.
2024-01-18 - Daily oil and gas output is forecasted to decline from shale basins across the Lower 48 in February—except from the mighty Permian Basin, according to new Energy Information Administration figures.
2024-02-07 - U.S. oil production reached record levels to close out 2023. But the future of U.S. output hinges on E&P capital discipline and well-productivity trends in the Permian Basin, according to McKinsey & Co.
2024-01-29 - The Canadian company says it is still working for a last listed in-service date by the end of 2Q 2024.
2023-12-12 - Total interstate gas sample receipts averaged 6.3 Bcf/d, as Permian Basin gas volumes met California demand.