The owners of the Terra Nova oil project are extending the life of the project by ten years.
The Terra Nova floating, production, storage and offloading vessel will go to drydock next year for about half a year. Paul Newmarch of Suncor says it will mean an additional 80-million barrels of oil as the life of the project will increase to 2031.
Key upgrades include structural repairs to the hull, replacement of the waste/heat recovery unit, fabric maintenance and refurbishment of the swivel.
