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Findings of the 2019 Independent Resource Assessment Released

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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

PEGNL recognizes Dr. Richard Wright, Nalcor Energy-Oil and Gas Exploration Manager, with Early Accomplishment Award 

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June 8, 2018, St. John’s, NL – Dr. Richard Wright, Exploration Manager with Nalcor Energy-Oil and Gas was honoured by his peers with the Early Accomplishment Award during the Professional Engineers and Geoscientists Newfoundland & Labrador (PEGNL) Annual Awards Dinner on Thursday evening.

This award recognizes PEGNL members in the early stages of their careers who have achieved exceptional accomplishments within their field of work as well as notable leadership within the profession or community.

“I would like to express sincere gratitude to PEGNL and its members for this tremendous honor. I am so fortunate to be surrounded by some of the best people in the business,” said Dr. Richard Wright. “While we can’t change the resources that ultimately lie in our offshore basins, our team is applying rigorous exploration best practices and technical innovation to ensure we systematically evaluate every square kilometer of our offshore basins to find new oil and gas resources for the people of Newfoundland and Labrador.” 

A second-generation geophysicist, Dr. Wright has become an innovator and leader within the Newfoundland and Labrador offshore exploration landscape. As a direct result of the offshore exploration geoscience work that he and his team are carrying out, the province is poised for growth. New basins in frontier areas have been mapped and delineated and play types that have never before been seen in offshore Newfoundland and Labrador are being imaged. Since joining Nalcor, Dr. Wright and his team have had many notable achievements, including finding and presenting to industry a new play trend in the West Orphan Basin that subsequently in 2016 received bids from the global industry of over $460 million, as well as inventorying over 650 leads and prospects in the Newfoundland and Labrador offshore.

“Richard is driven by his passion for his profession but just as equally by his passion for this province,” said Jim Keating, Executive Vice President, Offshore Development and Corporate Services. “Until recently, little was known about many of the frontier basins offshore Newfoundland and Labrador. Throughout the last nine years, Richard has lead a team of explorers that are focused everyday on opening new areas for industry exploration and potential future development for our province. As a result of that commitment, we are just starting to understand the full potential of our resources and the role they will play in building a strong future for our province.”

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Leona Barrington, Nalcor Energy – Oil and Gas

t. 709.737.4244 c. 709.699-8035 e. leonabarrington@nalcorenergy.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.