Canada – Norway March 2019
Canada – Norway March 2019 Canada – Norway March 2019
Canada – Norway March 2019 A not-for-profit association of businesses that promotes the development of clean technology and the growth of the green economy in Newfoundland and Labrador.
Canada – Norway March 2019 Canada – Norway March 2019 Today’s Presentation: ▪ About Newfoundland and Labrador ▪ Doing Business in NL ▪ The Oil and Gas Industry in NL ▪ The Potential of NL’s Oil and Gas Industry ▪ NL’s Strategy Priorities in Oil and Gas and Oceans ▪ Introduction to Our Delegation
Canada – Norway March 2019
Canada – Norway March 2019
Canada – Norway March 2019 https://findnewfoundlandlabrador.com/
Canada – Norway March 2019 Clean technology Internationalization development and of business activities application in offshore oil and gas
Canada – Norway March 2019 Doing Business in Newfoundland and Labrador
Canada – Norway March 2019 Oil & Gas Offshore Canada: NL ▪ Canada’s largest ocean economy ▪ Population of 500 000 ▪ Sub-arctic environment ▪ Global leaders in ocean innovation: 15 educational and research institutes ▪ Exporters of ocean enterprise: in 50+ countries ▪ Ocean economy employs ~ 40,000 people ▪ 450 companies in oceans-sector business
Canada – Norway March 2019 The Atlantic Accord ▪ One-window approach to regulation for Resource offshore Newfoundland and Labrador management (NL). ▪ Joint management: Federal Canada Employment and the province of NL (C-NLOPB) Safety Opportunity ▪ NL is to be the principal beneficiary Legislative Scope of its offshore oil and gas resources. ▪ Intention: Oil and gas developments be implemented and managed in a manner that creates a lasting Industrial Environment benefits economic legacy for the people of the Province.
Canada – Norway March 2019
Canada – Norway March 2019 NL Assets ▪ Skilled and readily available workforce ▪ World-class education, training and research facilities ▪ Recognized operating expertise in harsh environments ▪ Robust supply and service capability ▪ Significant industrial capacity ▪ International suppliers
Canada – Norway March 2019 Canada – Norway March 2019 Newfoundland and Labrador’s Offshore Oil and Gas Industry
Canada – Norway March 2019 Current Production - NL Offshore Oil and Gas
Canada – Norway March 2019 Bay du Nord ▪ Discovered 2013; Framework Agreement signed July 2018 ▪ Located in a new basin - Flemish Pass ▪ Approximately 500 kms from shore and 1,200 m depth ▪ 300 million barrels in reserve ▪ Sanction expected 2020, with first oil 2025 ▪ FPSO for extraction ▪ $10.9 billion project cost for the life of the field ▪ R&D investment of $300M over project life: $75M for subsea tech, digitalization or renewable energy
Canada – Norway March 2019 West White Rose Expansion
Canada – Norway March 2019
Canada – Norway March 2019 Exploration Campaigns • 7 Drilling project summaries have been submitted to the CEAA by 6 operators • Upwards of 80 wells proposed in the applications in the Orphan Basin in the Flemish Pass Basin in the Jeanne D’Arc Basin in the Carson Basin & Flemish Pass In the Flemish Pass in the Flemish Pass Basin
Canada – Norway March 2019
Canada – Norway March 2019 Enhance Local Supply Chain ▪ Explore and advance business growth options including joint venture opportunities, business diversification, export markets, and start-ups
Canada – Norway March 2019 Support Innovation ▪ Advance subsea technology solutions (e.g. modular subsea systems, lean tiebacks, subsea factory, and towed solutions) and build subsea engineering expertise, technology capabilities, and support infrastructure that can leverage export opportunities, with a particular focus on harsh environment and deepwater solutions https://www.nr.gov.nl.ca/nr/advance30/pdf/Oil_Gas_Sect or_FINAL_online.pdf
Canada – Norway March 2019
Canada – Norway March 2019
Canada – Norway March 2019 Our Delegation
Canada – Norway March 2019
Canada – Norway March 2019 Kieran Hanley Executive Director kieran@neia.org
Canada – Norway March 2019
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