CallForBidsNF00-1 - Jeanne d'Arc, South Whale, Magdalen Basins

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INTRODUCTION Page 2 Hibernia Gravity Based Structure (GBS) The C-NOPB has recently upgraded its Hibernia reserve estimate from 666 million to 884 million barrels recoverable oil. The East Coast of Canada, including offshore Nova Scotia and offshore Newfoundland and Labrador, has recently come to prominence as a major new territory for petroleum exploration and development. The Hibernia field, in 80 metres of water on the Grand Banks of Newfoundland, began production with a gravity based structure in 1997, and is currently producing about 150,000 barrels of oil per day. The Terra Nova field, located 35-km southeast of Hibernia, will be brought onstream next year using a floating production system that is expected to produce more than 115,000 barrels of oil per day at startup. Husky Oil recently announced a development proposal to produce 75,000 to 100,000 bopd from the White Rose field by late 2003 and Chevron is currently studying the possibility of developing the Hebron/Ben Nevis fields.To date, 127 exploration wells, 29 delineation wells and 37 development wells have been drilled and resulted in the discovery of recoverable resources of 2.1 billion barrels of oil, 9.3 tcf of gas and 413 million barrels of natural Terra Nova Floating Production Storage and Offloading Facility gas liquids. The international petroleum industry, along with local companies and research institutions, have Finding costs for the Grand Banks are less than US $1.00. successfully adapted technologies developed in the North Sea, Gulf of Mexico and elsewhere to meet the challenges of the northwest Atlantic environment, in a manner that allows for safe and profitable access to the area’s considerable petroleum resources. Finding costs for the Grand Banks are less 1 than US $1.00 and extraction costs for the Terra Nova field are estimated at US$ 7.50 based on a reserve of 370 2 million barrels . Petro- Canada estimates that an undrilled fault block in the field may contain an additional 100 million barrels. More detail on discovered resources and geological framework is provided in Section 3.
INTRODUCTION Page 3 Fourteen parcels of land totaling 2.2 million hectares are offered in the Call for Bids NF00-1 that closes December 11, 2000. Snorri GOVERNMENT OF NEWFOUNDLAND AND LABRADOR Department of Mines and Energy Petroleum Rights Newfoundland and Labrador May 2000 Hopedale North Bjarni Bjarni EL 1048 EL 1049 EL 1050 Gudrid EL 1051 Goose Bay LABRADOR Cartwright Hibernia EL 1027 EL 1046 EL 1036 EL 1033 EL 1034 EL 1046 EL 1023 EL 1032 1 EL 1022 EL 1047 EL 1045 EL 1043 2 EL 1044 White Rose EL 1042 EL 1041 EL 1039 EL 1040 EL 1052 EL 1025 3 Terra Nova EL 1026 QUEBEC 4 5 6 7 NEWFOUNDLAND St. John’s FRENCH EXCLUSIVE ECONOMIC ZONE EXPLORATORY PERMITS NOTE: For illustrative purposes only Newfoundland Petroleum Rights
Page 1 and 2: Department of Mines and Energy Gove
Page 3: Department of Mines and Energy Offs
Page 7 and 8: Page 5 STRATEGIC LOCATION The Hiber
Page 9 and 10: Page 7 INDUSTRIAL INFRASTRUCTURE A
Page 11 and 12: Page 9 INFRASTRUCTURE North Atlanti
Page 13 and 14: -53°00' -48°00' 0 100KM BRUNSWICK
Page 15 and 16: EGRET Page 13 GEOLOGICAL FRAMEWORK
Page 17 and 18: Page 15 GEOLOGICAL FRAMEWORK Carson
Page 19 and 20: GEOLOGICAL FRAMEWORK The presence o
Page 21 and 22: Section 4 Page 19 Request For Bids
Page 23 and 24: Parcel 2 Page 21 Request For Bids P
Page 25 and 26: 4610’ O 45 0’ O Parcel Parcel 4
Page 27 and 28: Parcel 6 Page 25 Request For Bids P
Page 29 and 30: O -52 0’ O 43 0’ Parcel 8 Reque
Page 31 and 32: Parcel 10 Parcel 10 Request For Bid
Page 33 and 34: O -5200’ O 43 0’ Parcel 11 Requ
Page 35 and 36: -5 2 0 0 ’ O 430’ O Parcel 13 R
Page 37 and 38: Section 5 HOW TO MAKE A BID Page 35
Page 39 and 40: Page 37 FISCAL REGIMES AND TAXATION
Page 41 and 42: Section 8 Page 39 Bibliography, End
Page 43 and 44: Appendix A Parcel 5 Program Number
Page 45 and 46: HIBERNIA 1 1 TERRA NOVA HEBRON WHIT

CallForBidsNF00-1 - Jeanne d'Arc, South Whale, Magdalen Basins

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