|
Petro-Canada is the operator and 34% interest holder in the Terra Nova oil field development 350 kilometres off the coast of Newfoundland and Labrador.
Discovered in 1984 by Petro-Canada, the field is the second largest off Canada’s East Coast. Terra Nova is the first harsh environment development in North America to use a Floating Production Storage and Offloading (FPSO) vessel. Production from the field began in January 2002. |
The Terra Nova FPSO is located 350 kilometres east-southeast of St. John’s, Newfoundland, Canada. |
Terra Nova Production Life
The Terra Nova Field has 440 million barrels of recoverable oil including 40 million barrels which will come from the Far East Development, approved in late 2005, and is expected to be on-stream in the first quarter of 2006. Plans are in place to achieve first quartile performance at the Terra Nova Field through an extended turnaround in 2006.
Owners
The Terra Nova Owners and their working interests are:
|