Bay du Nord Project | Natural Resources

Natural Resources

Bay du Nord project

Framework agreement reached on the Bay du Nord Project. Opening of a new basin – the Flemish Pass.

Discovered in 2013, the Bay du Nord Project is expected to be sanctioned in 2020, with first oil expected in 2025. With reserves of nearly 300 million barrels of oil, Bay du Nord is the first remote, deep water project in the province’s offshore (500 kilometres from shore and approximately 1,200 metres deep). It opens a new basin – the Flemish Pass and is the first project to be negotiated under Newfoundland and Labrador’s generic oil royalty regulations.

 
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