{"id":784386,"date":"2026-07-06T18:30:13","date_gmt":"2026-07-06T18:30:13","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/784386\/"},"modified":"2026-07-06T18:30:13","modified_gmt":"2026-07-06T18:30:13","slug":"equinor-becomes-sole-owner-of-bay-du-nord-project","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/784386\/","title":{"rendered":"Equinor Becomes Sole Owner of Bay du Nord Project"},"content":{"rendered":"

\t\t\t\t <\/p>\n

\t\t\t\t\"Equinor<\/p>\n

(via Google Maps)<\/p>\n

Equinor is now the sole owner of the massive Bay du Nord project in the province\u2019s offshore.<\/p>\n

Equinor reached an agreement with bp<\/a> to acquire its interest in the Bay du Nord project, thereby increasing the Norwegian-based company\u2019s ownership to 100 per cent.<\/p>\n

According to Equinor, the transaction will provide the company with increased flexibility to move the project towards a final investment decision \u2013 targeted for early 2027.<\/p>\n

The project has already moved to the front-end engineering and design work phase and \u201cconstructive\u201d conversations have been held with the provincial and federal governments allowing the project to move through key milestones.<\/p>\n

Bay du Nord, with an estimated 400 million barrels of recoverable oil, is in the Flemish Pass approximately 500 km east of St. John\u2019s at a depth of 600 to 1170 metres.<\/p>\n

The final investment decision is subject to market conditions, and regulatory and internal approvals.<\/p>\n

Premier Commends Announcement<\/p>\n

\"\"<\/a><\/p>\n

Premier Tony Wakeham (VOCM News)<\/p>\n

Premier Tony Wakeham calls today\u2019s announcement \u201canother positive step forward\u201d for the Bay du Nord project.<\/p>\n

He says Equinor has \u201cmade it clear\u201d that it remains \u201cfully committed to Bay du Nord\u201d and taking full ownership is a \u201cstrong vote of confidence in Bay du Nord\u201d and the long-term potential of the NL offshore.<\/p>\n

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