Town of Placentia does deal with Husky

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Placentia Mayor Bill Hogan. — File photo

By Ashley Fitzpatrick and Elizabeth MacDonald

The Telegram and Transcontinental Media—Placentia

In another positive sign for Husky Energy’s proposed construction of an offshore oil platform at Argentia, TC Media has learned the Town of Placentia has voted to award a work permit to Husky, in return for about $2.25 million.

The deal runs 2014-2017 and breaks down as follows:

• Signing bonus of $250,000

• Construction permit fee of $250,000

• Grants in lieu of taxes of $500,000 each for 2014, 2015 and 2016

• Grant in lieu of taxes in 2017 of $250,000

According to sources, the deal was voted on and accepted at a town council meeting on Monday night, and is conditional on Husky’s development moving ahead.

The information on the deal was confirmed by Placentia mayor Bill Hogan mid-day today.

A spokeswoman for Husky said Tuesday the company has yet to make a decision on whether or not it will take on the project, or if it will take a different route for development involving subsea infrastructure.

“We continue to advance engineering and related work on options for full field development of West White Rose, including the wellhead platform,” she stated.

As reported, work at Argentia for the wellhead platform was cleared from provincial environmental assessment earlier this week, with conditions.


Updated version

Organizations: Argentia, Husky Energy

Geographic location: Placentia

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Recent comments

  • Tom Griffiths
    August 28, 2013 - 14:57

    Wow, this sure is great to hear. Being from the Placentia area I'm happy to see the continuing signs of growth. Having now lived most of my adult life here in Alberta its nice to think about someday going back home to live, work and finish out the other half of my life.There are many more Nflders like me that would love to do the same. Cheers!!