Study completed evaluating prospectivity of upcoming license rounds offshore Newfoundland and Labrador

November 4th, 2015

Nalcor Energy Oil and Gas in partnership with MG3 (Survey) UK Limited and Amplified Geochemical Imaging have completed a multi-client seabed coring program for offshore Newfoundland and Labrador.

“We are focused on finding new oil and gas potential for the people of Newfoundland and Labrador,” said Jim Keating, VP Oil and Gas, Nalcor Energy. “Our investments in new geoscience data and analysis at the front end of the exploration cycle is designed to determine the prospectivity of offshore Newfoundland and Labrador’s frontier basins and open new areas to industry exploration.”

The data collected will provide new perspective and insight into the working petroleum system supporting both ongoing licensing rounds and future exploration. The project region includes three of the Canada-Newfoundland and Labrador Offshore Petroleum Board’s Areas of interest in the upcoming 2016, 2017 and 2019 license rounds in offshore Newfoundland and Labrador. Approximately 100 sea floor coring samples, 14 heat flow data points, multibeam bathymetry transects and 36 surface samples have been acquired over these regions.

“We used the insights from our seismic and satellite seep data to help inform what areas in our offshore to carry out the seabed coring study,” said Keating. “Through the seabed coring study we have indications of areas where potential hydrocarbon release has occurred.”

MG3, as operator of the project, carried out the dynamic positioning survey, provided the coring vessel and performed all field activities, while AGI was responsible carrying out the analysis and reporting for the project.

Sample acquisition was completed the end of September. The multi-client study will be available through MG3 and AGI in late 2015.

For more information, please visitwww.nalcorenergy.com/exploration.

On behalf of the people of the province, Nalcor Energy Oil and Gas is currently a working interest partner in three offshore developments: the Hebron oil field, the White Rose Growth Project and the Hibernia Southern Extension. Nalcor is also leading the exploration of the province’s frontier and deepwater basins by making investments in new geoscience data and analysis to evaluate Newfoundland and Labrador’s undiscovered oil and gas resource potential.

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Media Contacts:
Cara Pike, Corporate Communications, Nalcor Energy
t. 709.737.1446 c. 709.685-9290 e.carapike@nalcorenergy.com

Mike Baker, CEO, MG3
e. mike.baker@mg3.co.uk

Molly de Coster, Business Development, AGI
e. decoster@agisurveys.net