Statoil and the Flemish Pass drilling project

The federal government will carry out an environmental assessment for the planned Flemish Pass exploration drilling project. The project aims to produce an oil field in offshore Newfoundland and Labrador. It is being led by Statoil Canada, with the Canadian Environmental Assessment Agency inviting the public to comment on the potential environmental effects of the project.

What do we know about the Statoil’s existing work on the Flemish Pass? Here’s a brief timeline:

January 2012

Chevron, Statoil and Repsol were named successful bidders on two exploration parcels in the Flemish Pass Basin, offshore NL. Statoil had 50 percent equity interest. Chevron has 40 percent and Repsol got 10 percent.

April 2011

Sateoil made a third discovery of crude oil in the Flemish Pass Basin. “The success of Bay du Nord is the result of an ambitious and targeted drilling campaign in the Flemish Pass Basin,” says Statoil Exploration executive vice president Tim Dodson. “This discovery is very encouraging.” 

June 2016

Statoil, along with its partners, finalised a 19-month exploration drilling program in offshore Newfoundland.

“Based on the improved understanding of the Flemish Pass Basin petroleum system, we are maturing further prospects that may add volumes to Bay du Nord,” said Erling Vågnes, senior vice president, Statoil Exploration, Northern Hemisphere.

October 2016

Statoil is planning to conduct a 10-year exploration drilling project within its licenced areas, starting in 2018.
 

African Business Review’s October issue is now live.

Stay connected: follow @AfricaBizReview and @WedaeliABR on Twitter.

African Business Review is also on Facebook.