Equinor delays Bay du Nord project offshore Canada

March 27, 2020
Equinor and Husky Energy have decided to postpone the Bay du Nord project due to the fall in oil prices.

Offshore staff

OSLO – Equinor and Husky Energy have reportedly decided to postpone the Bay du Nord project off Canada due to the fall in oil prices, according to a Reuters report.

The companies had previously expected the project, which has estimated reserves of 300 MMbbls, to start production in 2025.

“Equinor and partner Husky Energy have decided to defer the Bay du Nord development project offshore Canada to make the project more robust for low commodity prices,” the report quoted an Equinor spokesman to say. “Equinor will now take the time to further improve the project business case and assess the duration of this deferral,” he added.

Equinor has made no changes to schedules of other projects, including the second phase of its giant Johan Svedrup oilfield development in the North Sea and the Arctic Johan Castberg project, Eek said. Both projects are expected to start in 2022, according to the previously announced schedules.

There hasn’t been any impact on its oil or gas production so far, the spokesman added.

03/27/2020 

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