Newfoundland pumps one-third of Canada’s light crude oil

Gary Park

Petroleum News Calgary correspondent

The downward spiral of Western Canada’s conventional crude fields was reinforced in the latest numbers that saw Newfoundland’s Grand Banks claim almost a one-third share of Canadian light oil production in 2002.

It its annual report the Canada-Newfoundland Offshore Petroleum Board said output from the Hibernia and Terra Nova fields averaged 285,845 barrels per day in 2002, up from 148,735 bpd in 2001.

If regulators approve applications to raise limits for the two projects, combined output will reach 400,000 bpd, while the White Rose project is expected to contribute another 92,000 bpd by late 2005 or early 2006.

On the reserves front, a decision by the offshore board to move all probable and possible reserves to the proved category would double Hibernia’s count to 1.36 billion barrels from 618 million barrels.

Terra Nova’s reserve estimates of 459 million barrels are being updated, while White Rose proven reserves are currently 233 million barrels.

Natural gas reserves are rated at 1.32 trillion cubic feet for Hibernia, 269 billion cubic feet for Terra Nova and 2.22 tcf for White Rose.

Because of compressor problems as oil production was being ramped up, Terra Nova flared 15.9 bcf of gas last year, or 50.5 percent of the total gas produced at the field. Hibernia flared 4.2 bcf or 4.8 percent of the total gas produced.