Offshore Shipping Online

A publication for the offshore shipping industry published by Clarkson Research

  • Offshore Intelligence Monthly
  • Menu

    Terra Nova production underway

    News // February 1, 2002
    Petro-Canada, operator of the Terra Nova oil field offshore Newfoundland, says it is continuing to bring the field's first production wells on stream using the Terra Nova Floating, Production, Storage and Offloading (FPSO) vessel.

    Production commenced on January 20th following completion of engineering, construction and commissioning of the Terra Nova FPSO.

    Although first oil is on board the vessel, it is expected that production may be intermittent in the coming weeks as systems are fully tested and wells brought on stream.

    Terra Nova is expected to reach a sustained average production rate of 125,000 barrels of oil per day by year-end 2002, and produce for 15 to 18 years. The forecast pre-production capital cost of the Terra Nova development is $2.8 billion CDN.

    The Terra Nova oil field is located 350km east southeast of St John's, Newfoundland.

    More articles from this category

    More news