Canada upstream news

Suncor Energy has announced that the Terra Nova floating, production, storage and offloading vessel has safely restarted following the completion of the Terra Nova asset life extension project.

The company has completed the sale of the entirety of the shares of TotalEnergies EP Canada Ltd. to Suncor, comprising its participation in the Fort Hills oil sands asset and associated midstream commitments.

The company has accepted the award by the State of Alaska Department of Natural Resources (DNR) for the 39 540 acres that it was the successful bidder of in last year’s state lease sale.

The S&P Global Commodity Insights has raised its 10-year production outlook for Canadian oil sands for first time in more than half decade.

Equinor and partner Cenovus Energy have not yet made a final investment decision on whether to build the Bay du Nord offshore project.

The operations are due to commence in 2H22, offshore Eastern Canada for the drilling of one firm well.

William Standifird has been appointed CEO of Intelligent Wellhead Systems.

The newly acquired data provides 3D data coverage to complement the existing 2D grid, enhancing geological and geophysical insights to explorers offshore Newfoundland.

The acquisition includes approximately 8400 boe/d (51% oil and NGLs) of predictable low-decline production and 79.5 million boe of 2P reserves.

The sale to Kentech was completed on 15 August, following receipt of Saudi Arabian regulatory approval.