Suncor Energy restarts oil production from Terra Nova FPSO offshore Newfoundland and Labrador

November 27, 2023

(WO) – Suncor Energy announced that the Terra Nova Floating, Production, Storage and Offloading (FPSO) vessel has safely restarted following the completion of the Terra Nova Asset Life Extension project. Production is expected to ramp up over the coming months.

Terra Nova FPSO
Terra Nova FPSO

"Focusing on safety and operational integrity, we have brought this key offshore project online, providing additional cash flow for our shareholders as well as many benefits to the Newfoundland and Labrador and Canadian economies," said Rich Kruger, Suncor President and Chief Executive Officer. "We appreciate the collaboration and support from the provincial and federal governments regarding this project."

Terra Nova is an oil field located offshore Newfoundland and Labrador approximately 350 km southeast of St. John's. The Terra Nova Partners are Suncor - 48%, Cenovus - 34%, and Murphy Oil Corporation - 18%.

Suncor Energy is Canada's leading integrated energy company. Suncor's operations include oil sands development, production and upgrading, as well as offshore oil and gas activities.

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