Project Profile
Value: > US$700 million
Location: Canadian Atlantic
Water depth: 90-100 m
Reserves: 506 million barrels (revised in 2013)
Production: 364 million barrels of oil cumulative (November, 2014)
The Terra Nova field is located in the Jeanne d\'Arc basin, roughly 350 km east of St. John\'s, Newfoundland, Canada. Discovered in 1984 by Petro-Canada, the field is considered to be the second largest oil find off Canada\'s East Coast.
Terra Nova\'s reservoir consists of three major structural blocks -- Graben, East Flank and Far East. The field\'s reservoir, on the Graben and East Flank block, are estimated to contain more than 1 Bbo in place, and it has estimated recoverable reserves of 400 MMbo. The Far East block, which hasn\'t been drilled yet, is expected to contain 100 MMbo reserves.
Operators:
Suncor Energy: Operator with 37.675% interest
ExxonMobil: 19% interest
Husky Oil: 13% interest
Statoil ASA: 15% interest
Murphy Oil: 10.475% interest
Mosbacher Operating: 3.85% interest
Chevron Canada: 1% interest
Contractors:
Grand Banks Alliance: engineering, procurement, construction, installation, commissioning and possibly pre-development drilling activities up to the production of first oil
Alliance consists of:
SBR Offshore - Shawmont Newfoundland Ltd. and KBR
Doris Conpro
PCL Industrial Constructors
Coflexip Stena
Halliburton Canada
FMC Canada
Subsea 7: Subsea, umbilical, riser and flowline contract
Cal Dive International, Inc.: Construct \"glory holes\" to protect wellheads and subsea templates from the iceberg flow