Nalcor is a co-venturer in the Hebron oil field, holding a 4.9 per cent working interest in the province’s fourth offshore oil project.
The Hebron site lies 350km south-east of the Newfoundland and Labrador’s capital St John’s, in the Jeanne d’Arc Basin. It consists of the Hebron, West Ben Nevis and Ben Nevis fields.
Estimated recoverable reserves in Hebron are put at 700 million barrels of 18-25º API oil, making it the second-largest field in the Jeanne d’Arc Basin (after Hibernia).
Nalcor’s Bull Arm facilities are being used for project construction, including the gravity-based structure (GBS) for the purpose of oil extraction in the Hebron oil field. When completed, the GBS is designed to remain fixed to the ocean’s floor through gravity, with integrated drilling and production topsides. It will have the capacity to store in excess of 1 million barrels of oil in storage compartments.