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Equinor wins bids for new licences offshore Newfoundland

Equinor and its partners were the successful bidders for new exploration parcels in the prolific Jeanne d’Arc basin, offshore Newfoundland.

Equinor will operate two exploration parcels, NL18-CFB01-14 (Equinor Canada 70%, Husky Energy 30%) and NL18-CFB01-15 (Equinor Canada 60%, Suncor Energy 40%), totaling 4,126 sq km. Further, the company will participate in the Suncor-operated parcel NL18-CFB02-01, totaling 1,425 sq km, (Suncor 40%, Equinor Canada 30%, Husky 30%).

“We are pleased to have secured significant acreage and new exploration opportunities offshore Canada. The successful bids aligns with Equinor’s strategy of developing our position in prolific basins,” Tim Dodson, Equinor’s Executive Vice President for Exploration, said. “These exploration investments provide Equinor an important opportunity to advance our position in a region where we have a well-established exploration portfolio while we continue to evaluate and mature our existing exploration assets in the Flemish Pass Basin.”

Equinor has been active in Canada since 1996 and operates the 2013 Bay du Nord discovery, located in the Flemish Pass Basin. Equinor also holds an extensive exploration and partner-operated development position offshore Newfoundland, with partnership interests in the producing Hibernia, Terra Nova and Hebron fields.

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