South Eastern Newfoundland Region
On October 3, 2019 Nalcor Energy-Oil and Gas and Beicip-Franlab, in partnership with the Government of Newfoundland and Labrador, 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.
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).
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.