Equinor’s Bay du Nord approved by Canada
ST. JOHN'S, April 8, 2022 – The government has approved Equinor’s Bay du Nord offshore oil project in Newfoundland and Labrador, Canada, Reuters confirmed on Thursday.
The USD 12-billion venture involves a floating platform to drill resources of around 300 million barrels of oil. The site is located 500 kilometres off the province’s coast.
The proposed Bay du Nord development would be Canada’s first remote deepwater asset with drilling depths of around 1,200 metres.
The project is subject to 137 conditions that must be met according to the state, including protecting animal habitats.
Equinor and partner Cenovus Energy have yet to make a final investment decision.