Husky signs off on offshore project

Canada

CALGARY, May 30, 2017 – Husky Energy on Monday signed off on the USD 2.2-billion West White Rose project, which will utilise a fixed wellhead platform and a floating production, storage and offloading vessel.

The venture off Newfoundland is expected to deliver first oil in 2022. The project’s plateau production rate of 75,000 bopd should be reached three years later. Holding a 70% operatorship stake, Husky is joined by Suncor Energy and Nalcor Energy. The first associated construction works are expected to commence in the fourth quarter of this year.

Oil was first discovered in the White Rose production area in 1984. The most recent find dates back to the first quarter of 2017, when the White Rose A-78 well encountered a 100-metre column of light oil. Water depths in the area are around 120 metres.