The Bay du Nord (BdN) project consists of the three light oil discoveries in the Flemish Pass Basin, offshore Newfoundland: Bay du Nord (2013), Bay de Verde (2015), and Baccalieu (2016).
The project area is located 500 kms east of St. John’s, in water depths of approximately 1,200 m, with recoverable reserves estimated to be about 300 million barrels of oil.
The overall development concept comprises subsea installations tied back to a floating production unit (FPSO) for storage and offshore offloading to shuttle tankers.
It is currently expected that an investment decision could be made in 2021, with first oil to be produced in 2025.
Equinor and the other project owner Husky Energy have decided to defer the Bay du Nord development project to make the project more robust for low commodity prices. The project will continue its planning and develop an adjusted work programme according to new timelines.