ExxonMobil's Canada Offshore Project Produces First Oil
The Hebron oil project off the coast of eastern Canada has produced its first oil, operator Exxon Mobil said on Tuesday, in a boost to Atlantic Canada's output after years of weak crude prices. At its peak Hebron will produce up to 150,000 barrels per day (bpd), Exxon said. It will help Atlantic Canada offshore production climb 44 percent to 307,000 bpd by 2024, according to estimates from the Canadian Association of Petroleum Producers. The platform is located 200 miles (350 kilometres) off the coast of Newfoundland and Labrador in depths of 300 feet (92 metres) and the oil field…
Viking Supply Ships Get Chevron Canada Contract
Viking Supply Ships, one of TransAtlantic’s two business areas, has with the AHTS-vessel Magne Viking been awarded a term contract by Chevron Canada Ltd foroperations on one well. The contract is on subject and is not yet fully signed by the parties. The well support operations are estimated to last between 150 and 180 days and the charter will commence during the third quarter 2012. The vessel is going to support the drill ship Stena Carron with supply duties, anchor handling, towing, stand-by and rescue services, passenger movement and ice berg management. Viking Supply Ships, one of TransAtlantic’s two business areas, has with the AHTS-vessel Magne Viking been awarded a term contract by Chevron Canada Ltd for operations on one well.
Chevron Postpones Newfoundland Venture
Chevron Canada Ltd. says its partnership has decided to suspend negotiations with the government of Newfoundland and Labrador and demobilize the Hebron offshore project team after failing to reach a development agreement with the province. The joint-venture partners are ExxonMobil Canada, Petro-Canada and Norsk Hydro Canada Oil & Gas Inc., a subsidiary of Norway's Norske energy and industrial giant. Toronto Star reported that Hebron poses a number of challenges due to the high degree of technical complexity associated with recovering heavy oil in a harsh marine environment. While project activities have been suspended, the co-venturers remain positive that activities could proceed at a future date after a deal is reached with the provincial government.
