The C-NLOPB announced today that the Federal and Provincial Governments have approved the Board’s Fundamental Decision to approve Hibernia Management and Development Company’s (HMDC) Development Plan application for the AA Block.

Under the Atlantic Accord Implementation Acts, Fundamental Decisions of the Board must be ratified by both governments before they can be implemented. The approval of both governments now enables HMDC to proceed with development of the AA Block from the Gravity Based Structure (GBS). The AA Block is contained within the existing Production Licence – PL 1001.

The AA Block is estimated to contain 48 million barrels of oil.

• Decision Report 2009.10
• Staff Analysis
• Hibernia well locations

Media Contact:
Sean Kelly APR, FCPRS
Manager of Public Relations
(709) 778-1418 (office)
(709) 689-0713 (cell)
skelly@cnlopb.nl.ca