Agreement to Advance Bay du Nord Project will Create Thousands of Jobs, Generate Billions in Revenue

The Newfoundland and Labrador government signed a benefits agreement with Equinor for the Bay du Nord project, detailing up to $6.4 billion in direct revenue to the province over the first 25 years and a $200 million fabrication fund. The agreement accompanies plans for potential equity participation and notes the federal government will cover certain…

The Newfoundland and Labrador government signed a benefits agreement with Equinor outlining up to $6.4 billion in direct revenue to the province over the first 25 years, plus a $200 million fabrication fund to build a floating dry dock. The agreement accompanies Equinor’s consideration of proceeding with the Bay du Nord deepwater project, with a final…

The article reports that Newfoundland and Labrador signed a benefits agreement for the Bay du Nord offshore project, outlining up to 6.4 billion in provincial revenue, 3 million direct job hours in Phase 1, and 100 million in R&D plus a 200 million Fabrication Fund, with apprenticeship targets of 10% during construction and 15% in operations. It also…

The Newfoundland and Labrador government signed a benefits agreement with Equinor outlining up to $6.4 billion in direct government revenue over the first 25 years, plus a $200 million fabrication fund for a floating dry dock. The agreement accompanies Equinor’s consideration of an $11.9-billion Bay du Nord project, with a final investment decision…

The Newfoundland and Labrador government signed a benefits agreement with Equinor (and partner BP) for the Bay du Nord project, outlining up to $6.4 billion in direct revenue to the province over the first 25 years and a $200 million fabrication fund. The agreement comes as Equinor continues to consider proceeding with the $11.9-billion development, with…

Trades NL says it is pleased after the province announced that a benefits agreement had been reached with the oil companies overseeing the Bay du Nord offshore project. The article notes this development moves the massive project closer to completion.

The article reports that NL Premier Tony Wakeham announced a March 3 deal to develop the Bay du Nord oilfield, claiming it will bring $21 billion in investment, create skilled jobs, and include a new drydock in Bull Arm. Opposing critics say the agreement should have been debated in the House of Assembly, with concerns about guarantees on topsides work…

The Newfoundland and Labrador government signed a benefits agreement with Equinor outlining up to $6.4 billion in direct revenue to the province over the first 25 years, plus a $200 million fabrication fund for a floating dry dock. The agreement comes as Equinor considers proceeding with the Bay du Nord project, with a final investment decision expected…