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Did You Know?

Atlantic offshore development timelines

Did you know that it can take 20 years or more to move an exploration discovery to a development?

The current developments off the coast of Newfoundland and Labrador (Hibernia, Terra Nova, White Rose, Hebron) were all discovered in the 1970s and 1980s. In some cases, it’s taken more than 30 years for owners to start seeing a return on the millions of dollars spent in building up these projects. Imagine building a new house and having your money tied up for 30 years before you could move in!

Economic competitiveness is an important issue for Canada's oil and natural gas producers. Learn more about competitiveness in the Atlantic offshore industry with these resources:

Atlantic Canada Offshore competitiveness videos
Atlantic Canada Offshore competitiveness page
Understanding economic competitiveness