No decision has been made to shut down oil production on the Terra Nova FPSO. That, according to a statement from Suncor.

Reports emerged this week that the platform would be suspended until 2022, marking another blow to the Newfoundland offshore. However, Suncor says while they are evaluating the future of the Terra Nova, they are continuing to seek opportunities.

Due to safety concerns related to COVID-19, the company decided to not bring the platform to drydock for critical maintenance. Since then, Suncor says they have been considering other methods to ensure the work on the FPSO can be done.

Suncor states they are currently working to halt their operations in the offshore and move the vessel quayside, but the duration and location of which have not yet been decided.

Looking ahead, Suncor says completing the asset life extension work would ensure the vessel could operate for another 10 years, and extract a projected 80-million barrels of oil.

Earlier Story

Opposition Leader Ches Crosbie is accusing federal minister Seamus O’Regan of going “missing in action” as the industry awaits further federal measures to stabilize the offshore sector.

Premier Dwight Ball admits Terra Nova is in a tough position and says they’re working closely with the company and with Minister O’Regan on the issue.

Terra Nova has faced a number of recent challenges and has not been in production since December. He says the province will do what it can to help the company.

Premier Ball acknowledges that the difficulties go beyond the province with ongoing global challenges for the oil industry.