The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) has issued Significant Discovery Licence 1059 to Equinor Canada Ltd. and is announcing the related volume estimate for the Cappahayden K-67 discovery.
The C-NLOPB’s interpretation of well and seismic data associated with this discovery has resulted in an update to the Contingent Resources section of its Petroleum Estimated Ultimate Recovery and Contingent Resources table. The recoverable oil volume from this discovery is estimated to be 385 million barrels.
The Petroleum Resources Management System adopted by the C-NLOPB defines Contingent Resources as “volumes of hydrocarbons, expressed at 50% probability, assessed to be technically recoverable that have not been delineated and have unknown economic viability”. This includes oil in fields/pools that are not approved for development.
Further information on the Canada-Newfoundland and Labrador Offshore Area can be found here.
Director, Communications and Public Engagement
|2023, Sep 19||C-NLOPB Announces 2023 Calls for Nominations (Parcels) in the Eastern Newfoundland and Jeanne d’Arc Regions|
|2023, Aug 1||Hibernia Management Development Company Ltd. Pleads Guilty To Offence|
|2023, Jul 21||C-NLOPB Issues Statement in Response to Recent FFAW News Release|
|2023, Apr 17||C-NLOPB Announces 2023 Calls for Bids in the Eastern Newfoundland and South Eastern Newfoundland Regions|
|2023, Mar 6||Notice to Potential Bidders|
|2023, Feb 27||C-NLOPB Releases Inaugural Annual Emissions Reduction Initiatives Report|
|2023, Feb 3||C-NLOPB Issues Significant Discovery Licence to Equinor Canada Ltd. and Announces Volume Estimate for the Cappahayden K-67 Discovery|
|2023, Jan 13||C-NLOPB Announces Update of Volume Estimate for White Rose Field|