2020-12-23 Product news

Newfoundland’s Hibernia project gets 38M in federal aid

Newfoundland and Labrador approve $38 million in aid to Hibernia offshore oil project to protect 148 jobs.

This interesting article is about the energy industries. Alfa Laval’s sells and repairs heat transfer and separation systems on Oil & Gas production facilities. The systems are used to reduce energy costs and environmentally harmful emissions.

Read the full article and letter on boereport.com

“ST. JOHN’S, N.L. – Newfoundland and Labrador Premier Andrew Furey says the $38 million his government is giving the Hibernia offshore oil project will protect about 148 jobs over 18 months.

Furey made the announcement today, saying the money comes from a pot of $320 million offered to the province by the federal government in September to bolster the floundering oil industry.

Stephen Edwards, president of the Hibernia Management and Development Company, says the money will help it increase production and upgrade infrastructure that could lead to ten more years of drilling…

…Among Hibernia’s owners are ExxonMobil Canada, Chevron Canada Resources and Suncor.

Earlier this month, the province announced Husky Energy would receive $41.5 million to extend the life of its White Rose oilfield, located about 350 kilometres off the coast of St. John’s.…

Read the rest of the article on boereport.com


oil rig in sunset

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