The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) has announced that Husky Energy’s Development Plan Amendment for the White Rose Extension Project, offshore Newfoundland, has received conditional approval from the Board along with the federal and provincial governments.

According to C-NLOPB, this project is still being assessed by Husky Energy and requires a final investment decision from the company and its partners.

As a result of this conditional approval, the C-NLOPB has updated the reserves and resources for the White Rose Field to reflect an additional 165 MMbbls of oil, a decrease in gas of 5 Bscf and a decrease of 4 MMbbls in natural gas liquids (NGLs).

At its June 19, 2015 meeting, the Board approved the White Rose Extension Project Benefits Plan Amendment and Development Plan Amendment. In its deliberation with respect to these plans, the Board says it considered advice provided in its staff’s analysis as well as comments resulting from the public review.

Under the Atlantic Accord Implementation Acts, the Board’s approval was a Fundamental Decision, which has also been ratified by both governments as required.

C-NLOPB explained that, while Husky Energy and its partners continue to consider next steps with respect to this project, approval of the Development Plan Amendment enables them to proceed with further development of the White Rose Field in accordance with the approved approach if they so choose.

White Rose concepts

On the other hand, Husky Energy says it continues to assess potential development options for the West White Rose extension in the Jeanne d’Arc Basin. One of two concepts being assessed, a fixed wellhead platform, has received regulatory approval from the Canada-Newfoundland and Labrador Offshore Petroleum Board. Husky says that a subsea option to develop the field extension is also being evaluated.

The West White Rose extension is expected to begin production in the 2020-plus timeframe, subject to ongoing project review and final approvals.

Husky holds a 72.5 percent working interest in the main White Rose field, located approximately 300 kilometres off the coast of Newfoundland and Labrador. It has a 68.9 percent interest in the satellite fields, which include North Amethyst, South White Rose and West White Rose.

Source: www.offshoreenergytoday.com

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