Canada Regulator Licenses Equinor's Offshore Oil Discovery

Friday, February 2, 2024

A Canadian offshore oil regulator said on Friday it has licensed an oil discovery by Equinor ASA off the country's coast, an area of around 14,900 hectares.

The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) said that the oil volume from the Cambriol G-92 discovery is estimated to be 340 million barrels.

Equinor owns 60% of the discovery, and BP owns the remaining 40%, according to the license.

Early last year, C-NLOPB issued a similar license to Equinor for the Cappahayden K-67 discovery, which is estimated at 385 million barrels of recoverable oil.


(Reuters - Reporting by Seher Dareen; Editing by Shweta Agarwal)

Categories: Energy Activity North America

Related Stories

Baker Hughes Gets Multi-Year P&A Contract from Petrobras for Fields Off Brazil

Murphy Oil Extends Noble Drillship in the Gulf of Mexico

OPEC+ Extends Deep Oil Production Cuts into 2025

Current News

ABS to Class Two New Seatrium FPSOs for Petrobras

Solstad Offshore Scoops $240M in Contracts with Petrobras

New JV Starts Decom Ops for OpenHydro’s Tidal Energy Test Platform Off Orkney

Opsealog Expands Fleet Digitalization Contract with CLV Operator

Subscribe for OE Digital E‑News