Petro-Canada is bringing new Terra Nova field to full production

Petro-Canada, operator of the $2.8 billion (Can.) Terra Nova field off Newfoundland, said production from the newly opened field continues to increase.

HOUSTON, Jan. 25 -- Petro-Canada, operator of the $2.8 billion (Can.) Terra Nova field off Newfoundland, said production from the newly opened field continues to increase.

The flow rate Wednesday was 75,000 b/d from two wells, up from initial production of 35,000 b/d from one well Sunday.

However, Petro-Canada expects production may be intermittent in the coming weeks as systems are fully tested and more wells brought on stream to reach a planned production rate of 125,000 b/d of oil.

The wells are producing to the Terra Nova floating production, storage, and offloading vessel. The FPSO can produce up to 150,000 b/d of oil and store 960,000 bbl. The double-hulled vessel is specially reinforced to stand against icebergs (OGJ, Jan. 21, 2002, p. 58).

The field is expected to produce for 15-18 years.

Petro-Canada has a 33.99% interest in the field. Other interests are ExxonMobil Corp. affiliate ExxonMobil Canada Properties 22%, Husky Oil Operations Ltd. 12.51%, Norsk Hydro Canada Oil and Gas Inc. 15%, Murphy Oil Co. Ltd. 12%, Mosbacher Operations Ltd. 3.5%, and Chevron Canada Resources Ltd. 1%.

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