Energy Minister Lloyd Parrott says it’s his belief that the Bay du Nord project will get the green light and that Equinor’s “Final Investment Decision” will be approved.

The company paused its plans for the deep-sea oil development in 2023 to find a more economic way forward.

Since then, British partner bp has pulled out of the $14 billion project, leaving Equinor as the sole owner.

A final decision on the Bay du Nord development is expected sometime early next year, but Minister Parrott, who is just back from an oil show in Norway, is confident it will go ahead.

“It is my honest belief that the Bay du Nord project will move ahead. 100 per cent.”