It has been known for some time that the drill rig Transocean Barents would be finishing up off Newfoundland in the coming weeks, but it was still a jolt for the approximate 160 workers to get their layoff notices this week.

The rig was leased by Equinor for exploration in the Flemish Pass.

Andrew Parsons, the newly-minted minister of industry, energy and technology, does not believe that the departure of the Barents signals a bleak future for the offshore.

The deep-water Bay du Nord project is in delay mode, but Minister Parsons sees a bright future.