The offer has not been accepted by the project's owners, Parsons said, but it's still on the table. More than 85 per cent of the oil reserves for the Terra Nova project has already been recovered, said Parsons. "Unlike current project owners, taking on an equity stake as a new partner involves significant risk to the provincial government. The Terra Nova field began producing oil in 2002. "I'm calling on project owners to continue to work to find an equity solution.

Source: CBC News June 10, 2021 14:11 UTC