HMDC moves forward with AA block development

Canada’s Federal and Provincial Governments have approved Hibernia Management and Development’s (HMDC) Development Plan application for the AA block. The block is estimated to contain 48 MMbbl of oil.

Offshore staff

ST. JOHNS, Canada -- Canada’s Federal and Provincial Governments have approved Hibernia Management and Development’s (HMDC) Development Plan application for the AA block. The block is estimated to contain 48 MMbbl of oil.

According to local news sources, the company plans to expand the Hibernia project to develop reserves southeast of the Hibernia platform offshore Newfoundland.

HMDC plans to use waterflood of the block, with a depletion plan that includes drilling two oil producer and two water injector wells from the gravity base structure on the Hibernia platform.

The development is expected to offset decline from the Hibernia field and extend the facility's life from 2027 to 2036. The field could produce up to 25,000 b/d, local news sources say.

09/03/2009

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