We’re an active player in Canada – one of the most resource-rich countries in the world. Equinor’s East Coast Canada assets are a high priority within our global portfolio. Equinor operates numerous discoveries in the Flemish Pass basin and is a partner in three developments in the Jeanne d’Arc basin offshore the province of Newfoundland and Labrador.
Leading a new offshore era
We have been present offshore Newfoundland and Labrador since 1996, when Norsk Hydro first acquired assets. Through our operating and partner fields, we are making significant investments in Canada’s offshore industry. Our ambition is to become an operator offshore East Coast Canada.
We have strengthened our long-term position in the Canadian offshore by acquiring exploration licenses in the Flemish Pass Basin in 2015 and the Jeanne d’Arc Basin in 2018, where we will apply the exploration knowledge and experience we have gained globally and in the North Atlantic specifically.
The growth of our portfolio offshore Newfoundland supports the company’s long-term position in the Canadian offshore.
Offshore Newfoundland is known to have a harsh environment for petroleum operations, with seasonal icebergs, wind and waves as well as deep water depths. With our vast experience as an operator in the Norwegian Continental Shelf and as a partner in established developments offshore Newfoundland, we are well-equipped to deal with these challenges.
The continued appraisal and maturation of our Bay du Nord discovery highlights the progress we are making in potential field development.
Offshore production in Newfoundland equals approximately 40% of Canada’s light crude production. Newfoundland and Labrador’s offshore resource potential are estimated at more than six billion barrels of oil.
Equinor is operator of seven discoveries offshore Newfoundland in the Flemish pass basin:
- Mizzen – Our first discovery made in 2009 in the Basin
- Harpoon – A light hydrocarbon discovery in 2013
- Bay du Nord – A 2013 discovery estimated to hold ~300 million barrels of light high-quality oil
- Bay de Verde – A light high-quality oil discovery in 2016 located adjacent to the Bay du Nord discovery
- Baccalieu – A light high-quality oil discovery in 2016 approximately 15 km from the Bay du Nord discovery
- Cappahayden and Cambriol – Two discoveries made in 2020, approximately 500 kms east of St. John’s, NL
Investing in local communities
We have a strong commitment to local investment in Canada and we aim to put local communities first in everything we do. We believe that bringing long-term value to local communities is important to the sustainability of our business and to the economic prosperity of the region.
We work to maintain the strong relationships we have built by aligning our business activities and investing in areas that promote local involvement in our operations.
Sustainability is no longer just about doing business responsibly – it’s also about seeing social and sustainability challenges as opportunities for innovation and development. We strive to create shared value opportunities by working closely with communities and aligning our business activities so that we can proactively and effectively create local value. We use a model of collaboration and partnership to address challenges and create value for local communities and for our business. This approach is integrated into our corporate social responsibility practices and guides our local content and social investment considerations. We promote social sustainability through a number of areas, including involvement in our tendering process to promote local sourcing, through social investment programs, as well as through strategic multi-organization partnerships and initiatives.
Offshore Newfoundland and Labrador, we have a Benefits Plan in place in which we have made a commitment to providing opportunities to Canada and, in particular Newfoundland and Labrador. This means that personnel and companies from Newfoundland and Labrador and Canada will have full and fair opportunity to compete for the supply of goods and services, research and development, and employment vacancies—with first consideration going to the province.
Heroes of tomorrow
Equinor is a supporter of local communities and youth talent development in Canada through sponsorship pillars covering arts and culture, sports and STEM (Science, Technology, Education and Mathematics). Currently, Equinor is the proud sponsor of the following programs and events:
Financial and legal reports
In accordance with Canadian regulatory requirements, Equinor Canada Ltd. has published the following report for Extractive Sector Transparency Measures Act (ESTMA).