In September 2006, Husky Energy made an application to the Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) to increase the annual oil production rate for the White Rose oil field. This constitutes a Fundamental Decision and therefore, requires approval from both the Federal Minister and the Provincial Minister.

The C-NLOPB submitted its Decision to both Ministers in early March and both have approved the C-NLOPB Decision. Today, the C-NLOPB is implementing its Decision to increase the annual oil production rate for the White Rose field. The operator may proceed immediately to increase production to 45.6 million barrels/year (125,000 barrels per day) from 36.5 million barrels/year (100,000 barrels per day). Following the completion of a testing program to the satisfaction of the Certifying Authority and the Board’s Chief Safety Officer and Chief Conservation Officer, production may be increased to 50 million barrels/year (137,000 barrels/day).

Since production at any point is subject to reservoir performance and good reservoir practice, the actual level of production on any given day may vary up to maximum rates approved.

The C-NLOPB’s Decision Report, Decision Report 2007.01 White Rose Production Volume Increase Development Plan Amendment Application , is available on its website at www.cnlopb.nl.ca.

Decision Report 2007.01 White Rose

SOURCE:
Max Ruelokke, P.Eng.
Chairman and CEO

Media Contact:
Sean Kelly APR
Manager, Public Relations
(709) 778-1418
skelly@cnlopb.nl.ca