Nalcor receives award for offshore exploration work

By February 1, 2016Press Release

February 1, 2016, St. John’s, NL–Nalcor Energy is the recipient of Natural Resources Magazine Resource Development Award for the oil and gas exploration work the company is carrying out offshore Newfoundland and Labrador.

The Resource Development Award is given to a company that develops an oil and gas, mining or renewable energy resources project in Atlantic Canada that results in significant economic benefits for the surrounding area. The project must also be environmentally sustainable or potentially result in the discovery or development of an oil and gas, mining or renewable energy resource in Atlantic Canada.

With the support of the Government of Newfoundland and Labrador, since 2011 Nalcor has been the driving force behind one of the largest ongoing oil and gas geoscience programs in the world. At the end of 2015, over 110,000 line kilometres of 2D seismic data had been acquired for the region. This new data is shedding insights on the nearly two dozen basins surrounding Newfoundland and Labrador. New basins have been discovered, new structures that could contain oil have been imaged and new areas for exploration are being uncovered.

“Through our exploration strategy, we are focused on finding new oil and gas resources for the people of Newfoundland and Labrador,” said Jim Keating, VP Oil and Gas, Nalcor Energy. “We are providing new insights about the oil and gas potential to the global oil and gas industry to reduce risk and uncertainty for global investment in our offshore. We are honored to be recognized by Natural Resources Magazine for the positive impact that this work is having on the future of our offshore.”

For more information about the award visit: http://www.naturalresourcesmagazine.net/ and for more information about Nalcor’s exploration strategy visit: www.nalcorenergy.com/exploration.

On behalf of the people of the province, 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.

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