EnCana's Deep Panuke sanctioned

Offshore staff

CALGARY, Alberta -- EnCana has sanctioned the $700 million development of the Deep Panuke gas field off Nova Scotia. First production is expected in 2010 with the delivery of 200 – 300 MMcf/d of natural gas to markets in Canada and the northeast US.

"Over the past five years, EnCana employees, the government of Nova Scotia, federal and provincial regulators and the Atlantic energy community have worked diligently to achieve this important milestone," says Randy Eresman, president and CEO of EnCana.
"We are excited to move ahead with the development of the Deep Panuke discovery."

"This is a great day for Nova Scotians and for the Nova Scotia offshore," says Premier Rodney MacDonald. "There is no question that momentum is growing in our offshore, and with that momentum comes jobs, infrastructure, and opportunity."

"This is great news for the energy industry today -- and it hints at the potential for tomorrow," adds Energy Minister Richard Hurlburt. "Nova Scotia has more than 400,000 sq km (154,441 sq mi) of under-explored offshore potential. This project not only represents new activity in our offshore, more people working, and more investments -- it will also mean more interest in our resource."

10/26/2007