As discussions over the future of the Terra Nova FPSO drag on, the lead operator of the offshore Newfoundland oilfield, Suncor Energy, is preparing for all contingencies, including decommissioning and abandonment. Suncor is seeking proposals from companies who could do wellbore abandonment for the 30 wells tied to the Terra Nova production system, 11 other exploration and delineation wells, and carry out decommissioning of the Terra Nova FPSO. Andrew Parsons, Newfoundland and Labrador's energy minister, says talks to find an economically viable path forward for the Terra Nova oil field are ongoing. The second scenario would also require an expensive overhaul of the aging Terra Nova FPSO. The Terra Nova FPSO is located about 350 kilometres off Newfoundland and Labrador, and has not produced oil since late December.

Source: CBC News May 03, 2021 17:34 UTC