Husky Oil to proceed with West White Rose project off Newfoundland:’A happy day’
ST. JOHN’S, N.L. — One of the largest oil developments to be approved in Canada this year lit up Newfoundland and Labrador’s bleak economic outlook as Husky Energy announced an expanded West White Rose project.
“It’s a happy day,” Malcolm Maclean, senior Atlantic vice-president for Husky (TSX:HSE), told reporters Monday. There will be hundreds of jobs plus royalties, equity and tax benefits expected to top $3 billion for a province that has reeled since the oil price collapse.
“We’d like to start work almost immediately.”
The $2.2-billion project is to produce first oil in 2022, using a fixed wellhead platform tied to the SeaRose floating production, storage and offloading vessel about 350 kilometres east of St. John’s, N.L.