FPSO at an offshore oil field. (Source: Shutterstock)
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%.
Recommended Reading
DT Midstream to Buy 3 Pipe Networks from ONEOK in $1.2B Deal
2024-11-19 - ONEOK plans to use the proceeds from the sale of the Guardian Pipeline, Midwestern Gas Transmission and Viking Gas Transmission to focus on other operational priorities.
ONEOK’s Acquisitions Pay Off with Increased Earnings
2024-10-31 - ONEOK Inc. also announced the completion of its $2.6 billion Medallion Midstream deal.
Enbridge Among Growing List of Earnings Boosted by Acquisitions
2024-11-01 - Enbridge’s utilities acquisitions and gas transport growth helped to drive earnings in the third quarter.
ONEOK’s EnLink/Medallion Deal is Market-wise, Financially Astute
2024-10-11 - In addition to bolstering its multi-basin network, ONEOK pulled off a $5.9 billion transaction while leaving its credit rating intact.
Apollo to Buy $1B Stake in BP’s Trans Adriatic Pipeline
2024-09-16 - Apollo will purchase the non-controlling interest from BP subsidiary BP Pipelines TAP Ltd. for $1 billion as the oil major continues to make progress on a divestment target of up to $3 billion.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.