Hibernia Southern Extension
In early 2010, Nalcor completed a 10 per cent working interest acquisition in the Hibernia Southern Extension Unit sub sea tie-back project. This project includes two new licenses, as well as an area of the main field covered by the existing license.
In addition to its working interest in the project, Nalcor Energy Oil and Gas has also acquired a significant amount of valuable high-quality geoscience data for the entire Hibernia field that will be useful in identifying possible future expansions.
The Hibernia Southern Extension Unit will add in excess of 170 million barrels of oil and a total estimated value of $1.75 billion to Canada’s most prolific offshore oil project.