An agreement to develop the Hibernia South offshore oilfield should be complete this year, Premier Danny Williams said. More than a year ago, the Newfoundland and Labrador government rejected a proposal to develop the project, triggering fears that Williams was alienating the oil industry and scaring away investment. Williams, said he intends to turn his attention to the Hibernia South project once a deal to develop the Hebron oilfield is finalized, which is expected soon. The application was submitted in 2006 by the Hibernia Management and Development Corporation, which includes ExxonMobil, Chevron, Petro-Canada Norsk Hydro, Murphy Oil and Canada Hibernia Holding. ExxonMobil Canada president Glenn Scott said he was optimistic the Hibernia South negotiations would progress swiftly.
