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Innovators: Oil & Gas
Oil & Gas
- The Hibernia field on the Grand Banks, 315 km east of St. John's, became Newfoundland and Labrador’s first offshore producing field in 1997. 2010 production totaled 56.3 million barrels.
- Terra Nova went into production in 2002. 2010 production totaled 24.9 million barrels.
- White Rose went into production in 2005. 2010 production totaled 19.4 million barrels.
- The Hebron oil field is currently being developed, with first oil projected in 2017.
- Averaged over the last five years, Newfoundland and Labrador accounts for approximately 25 per cent of Canada's total crude oil production.
- The Hibernia gravity-based structure (GBS) was the world’s first to be designed for an ice-prone area and to withstand the impact of a six-million-tonne iceberg.
- The “cut and run” method for quickly disconnecting a floating production, storage, and offloading (FPSO) unit from the sea floor when pack ice starts to descend was first developed for the Terra Nova project.
- C-CORE of St. John’s developed the iceberg-towing net that has become standard equipment in Arctic and sub-Arctic waters.