Another platform offshore Newfoundland is going in for refit.

The FPSO SeaRose, which is currently at the White Rose field, will be taken out of circulation in January according to owner Cenovus Energy and won’t return until late in the third quarter.

The life extension of the SeaRose will keep the rig operating until 2038. With it out of circulation for most of next year, estimated production will be between 10,000 and 15,000 barrels per day.

Cenovus has released its 2024 budget, which includes an expenditure of between $850 million and $950 million, primarily directed towards the ongoing construction of the West White Rose project at Argentia. First oil from that field is expected in 2026.