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Petro-Canada is the operator and 34% interest holder in the Terra Nova oil field development 350 kilometres off the coast of Newfoundland and Labrador.
Discovered in 1984 by Petro-Canada, the field is the second largest off Canada’s East Coast. Terra Nova is the first harsh environment development in North America to use a Floating Production Storage and Offloading (FPSO) vessel. Production from the field began in January 2002. |
The Terra Nova FPSO is located 350 kilometres east-southeast of St. John’s, Newfoundland, Canada. |
Terra Nova Production Life
The Terra Nova Field has 440 million barrels of recoverable oil. The remaining life of the field is between 13 and 20 years.
Field production is transported by shuttle tankers either:
- from the FPSO to a trans-shipment terminal on the Avalon Peninsula, or
- if tanker schedules permit, directly to market
Crude oil delivered to the trans-shipment facility is transferred to storage tanks and loaded onto tankers for transport to markets in Eastern Canada.
Owners
The Terra Nova Owners and their working interests are:
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