On July 26, 2018, the Province of Newfoundland and Labrador announced an agreement with Equinor Canada Limited and Husky Oil Operations Limited to develop the potential Bay du Nord offshore deepwater oil site.
The potential Bay du Nord project is located in the Flemish Pass offshore Newfoundland and Labrador, 500 kilometres east of St. John’s. The potential project is expected to deliver its first oil by 2025 and it is estimated that there is 300 million barrels of recoverable crude in the remote Bay du Nord site. This would be the province’s first deepwater oil site and would provide the potential for billions in revenue and hundreds of jobs.
Equinor Canada Ltd. is part of Equinor Ltd., a Norwegian-based energy company present in 30 countries worldwide. The company is engaged in exploration, development and production of oil and gas, as well as wind and solar power.
Osler, Hoskin and Harcourt LLP represented Equinor Canada Ltd., as operator of the potential Bay du Nord offshore oil project, on all environmental assessment, regulatory and indigenous relations matters related to the potential project with a team consisting of Shawn Denstedt Q.C., Jessica Kennedy, Mark Graham and Justin Fontaine (Regulatory, Indigenous and Environmental).