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White Rose extension sanctioned; first oil projected for 2022

Premier Dwight Ball and Husky Energy announced sanctioning of a new multibillion-dollar oil project this morning; the White Rose extension.
Premier Dwight Ball and Husky Energy announced sanctioning of a new multibillion-dollar oil project this morning; the White Rose extension.

ST. JOHN'S, N.L. — Premier Dwight Ball and Husky Energy announced sanctioning of a new multibillion-dollar oil project this morning; the White Rose extension.

The deal will see a new wellhead platform constructed in Newfoundland and Labrador.

Natural Resources Minister Siobhan Coady said the deal creates "outstanding benefits to the province."

Coady also said that it's am exciting time for Newfoundland and Labrador, with the Hebron oil project ready for tow out, and production starting soon.

The prospect of a new major industrial construction project is particularly good for the province, given all the jobs winding up at Hebron.

Ball said that the project is anticipated to create between $3 billion and $4 billion in royalties and taxes for the province.

There will be 10 million person-hours of employment, with engineering and construction.

First oil us anticipated for 2022, with an anticipated production of some 75,000 barrels per day produced by 2025.

More to come.

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