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Terra Nova is an oil field development project 350 kilometres off the coast of Newfoundland. Petro-Canada is the operator and 34 per cent interest holder in the Terra Nova oil fields.
Discovered in 1984 by Petro-Canada, the field is the second largest off Canada's East Coast. Terra Nova is the first harsh environment development in North America to use a Floating Production Storage and Offloading (FPSO) vessel, the Terra Nova FPSO. Production from the field began in January 2002.
The oil is produced from the Late Jurassic-aged sandstone within the Jeanne d'Arc Formation. The reservoir was depositied as a large braided fluvial system. The discovery well was Terra Nova K-08 drilled in 1984 by Petro-Canada.
The working interest partners are:
- Petro-Canada (33.99 %) - operator
- Exxon Mobil Canada Properties (22.00%)
- Norsk Hydro Canada Oil & Gas (15.00%)
- Husky Energy Operations Ltd. (12.51%)
- Murphy Oil Company Ltd. (12.00%)
- Mosbacher Operating Ltd. (3.50%)
- Chevron Canada Resources (1.00%)
See also
External links
"Terra Nova (oil field)"