The CEO of OilCo is bullish about the long-term prospects at Bull Arm now that an RFP has gone out to evaluate the specifications, design, cost and construction for a floating drydock at the site.
CEO Jim Keating says a floating drydock will create “significant” long-term capacity for shipbuilding and repair at the Bull Arm fabrication site.
He says the concept will allow for increased flexibility to meet the needs of a variety of projects.
Premier Wakeham at the Bull Arm Fabrication site (Premier Wakeham, Trades NL, Placentia-West Bellevue MHA Jeff Dwyer, Arnold’s Cove Area Chamber of Commerce, and mayors/councillors from the neighbouring towns of Sunnyside, Come by Chance, Arnold’s Cove, and Southern Harbour – via OilCo)
Keating says it can be used for any kind of shape or size of vessel. “We think of a floating drydock almost like an elevator; it’s basically used to convey, lift or transfer a boat from the water to the shore so you can do work on it. And then when that repair or construction is finished, you use the drydock to put that boat back in the water.”
“So it really is a strategic piece of equipment.”
He says construction of the drydock could begin by the end of 2028.
Keating expects decisions to be made on study work and front-end engineering “required to take the next step” once the RFP is awarded.
“It could be, according to our schedule, moving in concert with the Bay du Nord project, because of course it’s going to be largely funded by that project, that we could see actual work at building it towards the back end of 2028.”
