Suncor Energy announces restart of production at Terra Nova

Suncor Energy has announced that the Terra Nova Floating, Production, Storage and Offloading vessel located about 350 kilometres southeast of St. John’s, Nfld. has restarted following the completion of the Terra Nova Asset Life Extension project. The company stated that production is expected to ramp up over the coming months at the offshore oil field.

“Focusing on safety and operational integrity, we have brought this key offshore project online, providing additional cash flow for our shareholders as well as many benefits to the Newfoundland and Labrador and Canadian economies,” said Rich Kruger, Suncor president and CEO. “We appreciate the collaboration and support from the provincial and federal governments regarding this project.”

The Terra Nova Partners are Suncor – 48%, Cenovus – 34%, and Murphy Oil Corporation – 18%.

Source: Suncor Energy.