Cenovus Energy and its partners have agreed to restart work at the West White Rose Project, offshore Newfoundland and Labrador in Canada, in 2023.

Major construction activities at the project were ceased in April 2020 due to a drop in oil prices following the outbreak of the Covid-19 pandemic.

The project, which is approximately 65% complete, is expected to add 14 years of production life to the producing White Rose field.

The White Rose field has been in production since November 2005.

Cenovus president and CEO Alex Pourbaix said: “The joint venture owners have worked together to significantly de-risk this project over the past 16 months. As a result, we’re confident restarting West White Rose provides superior value for our shareholders, compared with the option of abandonment and decommissioning.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“With the project about 65% complete, combined with the work done over the past 16 months to firm up cost estimates and rework the project plan, we are confident in our decision to restart this project in 2023.”

The West White Rose Project involves the deployment of a fixed drilling platform, which will be tied back to the existing SeaRose floating production, storage, and offloading (FPSO) vessel.

Cenovus plans to start production from the platform in the first half of 2026. It is expected to have a peak production of nearly 80,000 barrels per day by the end of 2029.

The West White Rose project forms part of the White Rose Expansion project, which also involves the development of two other satellite fields, namely the North Amethyst, and the South White Rose.

The development plan for all three satellite fields includes a subsea tie-back to the existing SeaRose FPSO vessel.

Cenovus and its partner Suncor Energy have restructured their ownership stakes in the White Rose project and satellite oilfields. Suncor now holds the majority stake in the assets.

The West White Rose Project joint venture (JV) partner include Cenovus, Suncor, and Nalcor while the White Rose asset JV partners are Cenovus, and Suncor.