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Findings of the 2019 Independent Resource Assessment Released

By | News | No Comments

October 3, 2019, St. John’s, NL – Nalcor Energy-Oil and Gas and Beicip-Franlab, in partnership with the Government of Newfoundland and Labrador, today released the 2019 Oil and Gas Resource Assessment results which identify an additional 3 billion barrels of oil and 5.8 trillion cubic feet of gas potential offshore Newfoundland.

“The purpose of embarking on this annual independent resource assessment is to broaden our understanding of the underexplored frontier basins and add to our geotechnical knowledge of the area” said the Honourable Siobhan Coady, Minister of Natural Resources. “The resource potential in our offshore is incredible. In just 9 per cent of our offshore, we have a combined resource potential of 52.2 billion barrels of oil and 199.6 trillion cubic feet of gas. We have over 650 leads and prospects identified to date, eight new entrants in the past three years, and $4 billion in recent exploration work commitments. We will continue to position our province as an internationally preferred location for oil and gas exploration and development.”

This year’s independent resource assessment is based on new data covering 9 parcels on offer in the Carson-Bonnition and Salar Basins (NL19-CFB01). This area is within the Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) 2019 South Eastern Newfoundland Call for Bids which is scheduled to close November 6, 2019.

“We are applying rigorous exploration best practices and technical innovation to ensure we ultimately evaluate every area of our offshore for oil and gas resource potential,” said Jim Keating, Executive Vice President, Offshore Development, Nalcor Energy-Oil and Gas. “In addition to the 2D multi-client seismic we collected with TGS and PGS over the area, we partnered with Fugro in acquiring a high resolution multibeam survey which identified a number of seep like features coming from the ocean floor. Subsequent coring of these anomalies confirmed hydrocarbon presence which is an important insight in this frontier basin due to the limited number of wells and no discoveries to date in the area.”

The resource assessment is based on multiple scenarios of geological models. All scenarios were calibrated to well and seismic data which provided a robust range of outcomes. Detailed technical work defined the nature and extent of the findings and further details are contained in the assessment report.

“Beicip-Franlab has carried out detailed interpretations of past and new data, well and seismic, in the Carson-Bonnition-Salar basins. The data integration approach applied was designed to rigorously asses uncertainty and risk, which allowed the generation of various probable alternative resource evaluation scenarios, confirming significant hydrocarbon potential in the area,” Jean Burrus, CEO, Beicip-Franlab.

The area is located 400 kilometres east-southeast of St. John’s and covers approximately 21,600 square kilometres. Water depths range from 100 metres on the shelf to 3,500 metres in the southeastern deep water region of the sector.

This is the province’s fourth scheduled license round. Future license rounds scheduled through 2024 will follow the same process with detailed resource assessments being conducted and released prior to bid closing.

Click here to download a copy of the resource assessment.

Nalcor Energy Oil and Gas is currently a working interest partner in three offshore developments: the Hebron oil field, the White Rose Growth Project and the Hibernia Southern Extension. Nalcor is also leading the exploration of the province’s frontier and deepwater basins by making investments in new geoscience data and analysis to evaluate Newfoundland and Labrador’s undiscovered oil and gas resource potential.

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Media Contact:
Leona Barrington
Nalcor Energy-Oil and Gas
t: 709.737.4244
c: 709.699.8035
e: leonabarrington@nalcorenergy.com

Lisa Lawlor
Natural Resources
t: 709-729-5777/631-8155
e: lisalawlor@gov.nl.ca

Gaël Lecante, Director, Sales and Business Development
Beicip-Franlab HQ,
t: +33 (0)1 47 08 82 32
c: +33 (0)6 23 92 24 58
e: Gael.LECANTE@beicip.com

Independent Resource Assessment reveals oil and gas potential offshore Newfoundland and Labrador continues to grow

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The Government of Newfoundland and Labrador, Nalcor Energy-Oil and Gas and Beicip-Franlab today released the 2018 Oil and Gas Resource Assessment that identifies an additional 11.7 billion barrels of oil and 60.2 trillion cubic feet of gas potential offshore.

The independent resource assessments are based on new data covering parcels on offer in the Orphan Basin (NL18-CFB01) and the East Jeanne d’Arc Basin (NL18-CFB01) within the area of the Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) 2018 Eastern Newfoundland Call for Bids.

“The resource potential in our offshore is incredible.  In less than 7 per cent of our offshore, we have a combined resource potential of 49.2 Billion Barrels of Oil and 193.8 Trillion Cubic Feet of Gas,” said the Honourable Siobhan Coady, Minister of Natural Resources. “We have over 650 leads and prospects identified to date, seven new entrants in the past two years, and $2.9 billion in recent exploration work commitments. We will continue to position our province as an internationally preferred location for oil and gas exploration and development.”

The upcoming license round includes a total of 16 parcels, nine new are the focus of the resource assessment which have been broken into two separate land areas – 2018 A (Orphan Basin) and 2018 B (East Jeanne d’Arc Basin). New 3D seismic data coupled with seabed cores collected by Nalcor and partners, TGS, PGS and Furgo, in the Orphan Basin has provided scientific evidence of active petroleum systems in the bid area. Multiple leads and prospects have been identified and separate assessment reports have been completed for 2018 A and 2018 B.

“We’re seeing the potential for multiple material scale opportunities in this upcoming license round and as a result of our 3D data investments we’ve also uncovered new leads and prospects in an area that was previously offered and is coming back for bidding in this license round,” said Jim Keating, Executive Vice President, Corporate Services and Offshore Development, Nalcor Energy-Oil and Gas. “Our ongoing collection of data is showing significant geological diversity throughout our offshore. Currently five drilling plans have been submitted to the regulator. These exploration programs coupled with the province’s continued data acquisition will further build our knowledge surrounding the full resource potential offshore and the role these resources will play in building a strong future for our province.”

Using the insights from regional Nalcor-Airbus satellite seeps survey and gravity and magnetics data, Nalcor, in partnership with global seismic companies TGS and PGS, is conducting one of the largest seismic programs in the world. By the end of 2017, over 170,000 line kilometres of new 2D and 15,000 square kilometres of multi-client 3D seismic data had been acquired. In addition to new data acquisition, Nalcor is systematically evaluating Offshore NL’s sedimentary basins for their potential to contain new oil and gas discoveries. From biostratigraphy to regional rock physics, these studies are undertaken to address key risks and scientific uncertainties in an effort to enhance industry investment in the province.  All this data and knowledge helps inform the annual resource assessment results.

“Beicip-Franlab has carried out detailed interpretations of past and new well and seismic data in the Orphan / Flemish basins and in the Eastern Jeanne d’Arc basin. These interpretations and Petroleum Systems modeling indicate the existence of significant oil and gas resources.” said Jean Burrus, CEO, Beicip-Franlab.

The independent assessment covers approximately 2% (20,000 square kilometres) of Newfoundland and Labrador’s offshore area. Future license rounds scheduled through 2021 will follow the same process with detailed resource assessments being conducted and released prior to bid closing.

2018 A (Orphan Basin)

2018 B (East Jeanne d’Arc Basin).

Nalcor Energy Oil and Gas is currently a working interest partner in three offshore developments: the Hebron oil field, the White Rose Growth Project and the Hibernia Southern Extension. Nalcor is also leading the exploration of the province’s frontier and deepwater basins by making investments in new geoscience data and analysis to evaluate Newfoundland and Labrador’s undiscovered oil and gas resource potential.

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Media Contact:
Leona Barrington
Nalcor Energy-Oil and Gas
t: 709.737.4244
c: 709.699.8035
e: leonabarrington@nalcorenergy.com

Nancy Hollett
Natural Resources
t: 709.729.5777
c: 709.685.3372
e: nancyhollett@gov.nl.ca

 

Event Beicip-Franlab
232, avenue Napoleon Bonaparte – BP 213
92500 Rueil-Malmaison Cedex – France
Phone: +33 1 47 08 80 00 – Fax: +33 1 47 08 41 85
events@beicip.com

Online Application Captures Insights from Newfoundland and Labrador’s Offshore

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Nalcor Energy Exploration Strategy System (NESS) brings together multiple sources of information into one location

June 27, 2017, St. John’s, NL – Nalcor Energy has launched the latest version of its Nalcor Energy Exploration Strategy System (NESS). This state-of-the-art, web-based application is the first of its kind in Newfoundland and Labrador and is available to industry, academic institutions and the general public at no cost, allowing multiple audiences to conveniently explore vast amounts of information on the province’s offshore.

“We’re taking a systematic and scientific approach to evaluating Newfoundland and Labrador’s frontier basins,” said Jim Keating, Executive Vice-President, Offshore Development and Corporate Services. “This proprietary system ensures key basin information is made readily available to industry to help inform key engineering, development and operation decisions and attract further investment.”

NESS captures information from multiple sources, studies and reports and unites it all within an interactive map enabling users to display, filter and analyze a vast array of data and information in one location. The diversity of information provides the user with a comprehensive look into the key elements that are relevant to exploration and development activities offshore Newfoundland and Labrador.

“The application offers easily accessible data for important exploration considerations such as historical metocean conditions, well and rock evaluation data, and reports on oil and gas resource potential,” added Dr. Richard Wright, Exploration Manager, Nalcor Energy Oil and Gas. “The integrated nature of NESS allows global explorers to transform large amounts of data on our offshore into actionable intelligence to help inform future exploration investments.”

Nalcor Energy has developed NESS in partnership with ICI Innovations, a Newfoundland and Labrador company who provides geospatial data intelligence solutions for industry in North America, South America and Europe.

The application is available on all devices by visiting, ness.nalcorenergy.com

Nalcor Energy Oil and Gas is leading the exploration of the province’s frontier and deepwater basins by making investments in new geoscience data and analysis to evaluate Newfoundland and Labrador’s undiscovered oil and gas resource potential. Nalcor is also a working interest partner in three offshore developments: the Hebron oil field, the White Rose Growth Project and the Hibernia Southern Extension.

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Media Contact:
Leona Barrington
Corporate Communications and Stakeholder Engagement
Nalcor Energy
t: 709.737.4244
c: 709.699.8035
e: leonabarrington@nalcorenergy.com

New Oil and Gas Play Trend Presented at the Society of Exploration Geophysicists (SEG) International Annual Meeting

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During the Society of Exploration Geophysicists(SEG) International Annual Meeting in Dallas, Nalcor Energy, along with its partners TGS, PGS and Airbus Defence and Space, presented the findings of a newly identified oil and gas play trend discovered Offshore Newfoundland.

Over the past five years, extensive 2D long offset broadband seismic data (110,000 line km) has been acquired offshore Newfoundland and Labrador. These new seismic programs have targeted the underexplored slope and deepwater areas of the province’s offshore. To further delineate this area, a 3D seismic survey was acquired over a portion of the area in the summer of 2015 and the data from the new 3D images provided further insight into the area’s potential prospectivity.

The play trend contains geology similar to slope and deepwater regions offshore Brazil. One of the key prospects in the area has similar characteristics to Brazil’s Marlim Field and has been named “Cape Freels”, which is the closest point of land to the play trend on the island of Newfoundland. The play trend is approximately 300 kilometres off the coast of Newfoundland within the 200 mile limit and is located within the West Orphan Basin. This area is the focus of the Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) 2016 Eastern Newfoundland Call for Bids and Beicip Franlab’s recent independent resource assessment which identified the in place resource potential of 25.5 billion barrels of oil and 20.6 trillion cubic feet of gas.

Both Nalcor Energy Oil and Gas papers presented at the conference were ranked in the Top 30 (out of 1,046) by SEG members. Please view the links below for more details.

Independent Resource Assessment identifies significant potential in the West Orphan Basin offshore Newfoundland and Labrador – News Release

By | Press Release | No Comments

August 24, 2016, St. John’s, NL – The Government of Newfoundland and Labrador, Nalcor Energy and Beicip-Franlab announced today that the in place oil and gas resource potential is 25.5 billion barrels of oil and 20.6 trillion cubic feet of gas in the West Orphan Basin located within the area of the CanadaNewfoundland and Labrador Offshore Petroleum Board (C-NLOPB) 2016 Eastern Newfoundland Call for Bids.

“The 2016 independent oil and gas resource assessment adds to our growing knowledge about our offshore oil and gas potential – leading to more exploration work by global companies and giving us assurance that we will have a thriving oil and gas industry in Newfoundland and Labrador for many years to come,” said The Honourable Dwight Ball, Premier of Newfoundland and Labrador. “We do recognize that exploration is down globally due to current challenges in the oil and gas industry. Still, we are cautiously optimistic about positive results of the licensing round in November 2016. We are fully expecting more exploration work by the leading oil and gas companies in the world.”

Nalcor, with its partners TGS and PGS, have been acquiring extensive 2D seismic data (110,000 line km to date) in the underexplored slope and deep water areas of the province’s offshore. To further delineate the West Orphan Basin, a 3D seismic survey was acquired over a portion of the area in the summer of 2015 and the data from the new 3D images has provided further insight into the area’s resource potential. This is the first time a 3D survey has been conducted offshore Newfoundland and Labrador in advance of a scheduled license round.

“We are focused on advancing exploration activity that will scientifically assess our entire offshore. This can only be accomplished by utilizing state-of-the-art technology to acquire the highest quality data to form the greatest understanding of its potential,” said Jim Keating, Executive Vice President, Corporate Services and Offshore Development, Nalcor Energy. “The 3D seismic survey added an additional layer of insight which has played an essential role in helping us risk reduce key prospects from a 1 in 20 to a globally competitive 1 in 6 chance of success.”

Through the integration of satellite slick data, 2D long offset seismic, 3D long offset seismic and seabed coring a new Lower Tertiary play trend has been identified in the West Orphan Basin. The discovery of this play trend is fully described in a recent Nalcor conference paper accepted for presentation at the Society of Exploration Geophysicists(SEG) International Annual Meeting in Dallas, Texas this fall. This newly identified prospectivity has resulted in Beicip Franlab’s resource assessment identifying the in place resource potential of 25.5 billion barrels of oil and 20.6 trillion cubic feet of gas in this area.

“The independent integrated geological and geophysical study carried out by Beicip-Franlab, supported by the application of leading edge modeling techniques, has been instrumental in identifying and quantifying significant prospective oil and gas resources in the West Orphan Basin” said Jean Burrus, CEO, Beicip-Franlab. “Our analysis and modeling of the 2016 area indicates favorable geological conditions for oil and gas accumulations.”

The independent assessment is based on new data covering the nine parcels on offer in the West Orphan Basin, an area located 300 kilometres from the northeast coast of Newfoundland. The assessment covers approximately 2% (20,000 square kilometres) of Newfoundland and Labrador’s offshore area.

This is province’s second scheduled license round. Future license rounds scheduled through 2020 will follow the same process with detailed resource assessments being conducted and released prior to bid closing.

To download a copy of the resource assessment or the SEG conference paper, visit nalcorenergy.com/exploration.

Nalcor Energy Oil and Gas is currently a working interest partner in three offshore developments: the Hebron oil field, the White Rose Growth Project and the Hibernia Southern Extension. Nalcor is also leading the exploration of the province’s frontier and deepwater basins by making investments in new geoscience data and analysis to evaluate Newfoundland and Labrador’s undiscovered oil and gas resource potential.

Media Contact:
Leona Barrington
Corporate Communications and Stakeholder Engagement
Nalcor Energy
t: 709.737.4244
c: 709.699.8035
e: leonabarrington@nalcorenergy.com

Michelle Cannizzaro
Media Relations Manager
Office of the Premier
709-729-3960
michellecannizzaro@gov.nl.ca

Jennifer Lancirica, Head of Communication
Beicip-Franlab
t. +33(0)1.47.08.81.81 c. +33 (0)6.37.27.58.97
e. jennifer.lancirica@beicip.com

Dr. Richard Wright Exploration Manager with Nalcor Energy Oil and Gas receives Industry Achievement Award

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February 25, 2016, St. John’s, NL– Dr. Richard Wright, Exploration Manager with Nalcor Energy, Oil and Gas was honoured with the Rising Star Award by the Newfoundland and Labrador Oil & Gas Industries Association (Noia) today at the 2016 Industry Achievement Awards Luncheon. The Rising Star Award was launched by Noia in 2014 to recognize the talents of an impressive individual who is 40 years old or younger and has made remarkable strides in their role in the local oil & gas industry.

“Being recognized by Noia as the 2016 Rising Star Award recipient is an honour. There are so many well-deserving individuals doing great things and making a different in our local oil and gas industry – it is truly humbling to be recognized in this way,” said Dr. Richard Wright. “This award is a testament to the important work – finding new oil and gas resources for the people of Newfoundland and Labrador – being carried out by the highly technical and capable people I get to work with at Nalcor each and every day,” said Wright.

Richard is playing a key role in developing and executing Nalcor’s multi-year exploration strategy – a strategy focused on systematically finding and quantifying Newfoundland and Labrador’s oil and gas resource potential to maximize the benefit for the people of the province, while reducing risk and uncertainty for the global industry to facilitate new exploration investments. “Richard is driven by his passion for Newfoundland and Labrador,” said Jim Keating, VP Oil and Gas, Nalcor Energy. “While Richard is focused on attracting new exploration and development investment to the province, he is more excited by the benefits that this investment will bring – the creation of thousands of high-paying jobs, enormous supply opportunities for local businesses, and a level of wealth and prosperity never before seen in Newfoundland and Labrador.”

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Cara Pike, Corporate Communications, Nalcor Energy
t. 709.737.1446 c. 709.685-9290 e. carapike@nalcorenergy.com