"We have been successful in the past improving projects like this, so when it comes to the future of Bay du Nord, we remain optimistic," said Løseth. The well will target a prospect called Sitka, and is part of Equinor's effort to firm up the amount of oil in the Bay du Nord field. But we want to clarify the resource potential in and around Bay du Nord," he said. "We need to look at other ways of developing Bay du Nord," Løseth explained. "If we can make Bay du Nord happen, there will be a lot of jobs to the province, there will be a lot of revenues coming into the province.

Source: CBC News January 26, 2024 18:44 UTC