Nalcor Energy undertakes regional oil seep study of offshore Newfoundland and Labrador

By November 24, 2010Press Release

November 24, 2010 – Nalcor Energy Oil and Gas is undertaking a regional oil seep mapping and interpretation study of offshore Newfoundland and Labrador. The data acquired from this study is valuable in detecting natural seepage and discovering potential new exploration areas. Seep detection is a cost-effective tool to assist in the analysis of the prospectivity for both under-explored and mature offshore basins, and to help focus future exploration efforts.

“The decision to undertake an oil seep mapping and interpretation study is a part of our corporate oil and gas strategy and aligns with the provincial energy plan,” explained Jim Keating, Vice President, Nalcor Energy Oil and Gas. “We are focused on facilitating and advancing oil and gas exploration in Newfoundland and Labrador, and this study is one element of understanding the potential of our resources.”

A contract to conduct the study has been awarded to Infoterra Ltd., part of Astrium Services GEO-Information Division and a global leader in providing offshore oil seepage information products to the oil exploration industry. Infoterra will use satellite data acquired over offshore areas to detect any natural oil seeps that may be present on the sea surface. Once the study is complete, seep data will be added to Infoterra’s Global Seeps Database, which can be licensed by oil exploration companies worldwide.

This study will cover all offshore areas of Newfoundland and Labrador, linking into southwest Greenland. In total, the study will cover over 1,500,000 square kilometers, and will be completed by spring 2011. The satellite image data compiled through this project has the potential to encourage additional exploration activity in areas identified as prospective. The data collected will aid in the enhanced targeting of seismic acquisitions, increasing the odds of exploration success and minimizing environmental impact.

“As partners in offshore development and as an active advocate for the Newfoundland and Labrador offshore industry, we believe the results of this study will help companies better understand the exploration attractiveness of this area,” said Keating.

This project is being funded through the Department of Natural Resources’ Offshore Geoscience Data Program (OGDP). The purpose of the OGDP is to fill knowledge gaps by purchasing existing proprietary geoscience data for re-evaluation as well as acquiring new data.

Nalcor Energy Oil and Gas has a long-term vision to maximize the benefits of the oil and gas opportunities and resources in Newfoundland and Labrador. The company 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 Energy Oil and Gas also has an average of 67 per cent gross working interest in three onshore exploration permits in the Parsons Pond area, on the Island’s West Coast.

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Media Contact for Nalcor Energy:
Dawn Dalley, Manager, Corporate Communications
t. 709.737.1315 c. 709.727.7715 e. ddalley@nalcorenergy.com

Media Contact for Infoterra Ltd:
Cheryl Billson, Comma Communications
Tel: +44 (0)7791 720460 cheryl.billson@commacomms.com

About Astrium
Astrium, a wholly owned subsidiary of EADS, is dedicated to providing civil and defence space systems and services. In 2009, Astrium had a turnover of €4.8 billion and more than 15,000 employees in France, Germany, the United Kingdom, Spain and the Netherlands. Its three main areas of activity are Astrium Space Transportation for launchers and orbital infrastructure, Astrium Satellites for spacecraft and ground segment and Astrium Services for comprehensive value-added end-to-end solutions of secure and commercial satcoms and networks, high security satellite communications equipment, geo-information fully integrated one-stop-shop offerings, and navigation services. EADS is a global leader in aerospace, defence and related services. In 2009, EADS generated revenues of €42.8 billion and employed a workforce of more than 119, 000.

www.astrium.eads.net
www.infoterra.co.uk