Where is the Bay du Nord oil project located?

The Bay du Nord project consists of several oil discoveries in the Flemish pass basin, some 500 kilometres northeast of St. John’s in Newfoundland and Labrador, according to Norway’s Equinor, which operates the project. 1:54 How does Canada get its oil to market?

How much is Bay du Nord worth?

The company says Bay du Nord will be worth about $3.5 billion to the Newfoundland and Labrador government, with oil production beginning in the latter part of the decade. Bay du Nord would be Canada’s first remote deepwater project to produce oil, with wells in about 1,200 metres of water pumping around 188,000 barrels of oil a day.

What are the environmental benefits of Bay du Nord?

The project has some significant environmental, economic and technical advantages: Emissions – Bay du Nord has the potential to be the lowest carbon intensity development of its scale in Canada, utilizing world-leading carbon reduction technologies – some of the first in Canada’s offshore industry.

How will Equinor's Bay du Nord project work?

With water depths of some 1,200 metres, Equinor's Bay du Nord project will use a floating production, storage and offloading vessel, better known as an FPSO, like the one illustrated. Equinor officials say a final investment decision is expected within two years, with first oil before the end of the decade. (Equinor)