The Bull Arm facility was constructed by the Hibernia Management and Development Company (HMDC) in 1990 for the Hibernia project. In 1998, HMDC transferred ownership of the site to the province and the Bull Arm Site Corporation (BASC) was formed. Ownership of the site was transferred to Nalcor Energy - Bull Arm Fabrication in 2008 in fulfillment of provisions in the Province's long-term Energy Plan.

Fabrication and other work associated with the Terra Nova FPSO, White Rose project, Voisey's Bay nickel project and the Henry Goodrich drill rig has been completed at the Bull Arm site.

This world-class facility covers a 2,560 hectare area and includes multiple fabrication sites allowing for simultaneous operation: Topsides Fabrication and Assembly; Drydock Fabrication and Construction; and Deepwater Site.