On Friday, January 23, 2009, the Newfoundland and Labrador Offshore Oil and Gas Industry produced its one billionth barrel of crude oil since production started in 1997.

Presently, there are three producing fields offshore Newfoundland and Labrador: Hibernia, operated by the Hibernia Management and Development Company; Terra Nova, operated by Petro-Canada; and White Rose, operated by Husky Energy. In 2008, Hibernia produced an average of 4.2 million barrels per month. Terra Nova produced an average of 3.2 million barrels per month and White Rose produced an average of 3.1 million barrels per month.

“The one billion barrel mark is a significant milestone for the Newfoundland and Labrador oil and gas industry and I want to commend present and former staff of the C-NLOPB for the important work they do in the development of the local offshore oil and gas industry,” said Max Ruelokke, Board Chair and CEO. “As well, on behalf of Board members and our staff, I extend congratulations to the Hibernia Management and Development Company, Petro-Canada, Husky Energy, and all the partners, along with all offshore and onshore workers who played a part in achieving this very significant milestone.”

The success of the three projects has created thousands of jobs for people in this province directly and indirectly and has contributed billions of dollars to the economies of Canada and Newfoundland and Labrador.

MEDIA CONTACT:

Sean Kelly APR
Manager, Public Relations
(709) 778-1418
(709) 689-0713 (cell)
skelly@cnlopb.nl.ca