West White Rose Project Agreement

The province says funding for the White Rose project will provide 169 people in the province in project management and engineering, as well as 162 artisans in Argentia and Marystown for a total of 331 people. It was also learned that discussions were ongoing between the provincial government and operators on other proposals for the aid fund. As evaluations of these proposals are underway, further projects will be announced in the coming weeks. Newfoundland and Labrador already hold a five per cent interest in the project through Crown Nalcor Energy. Businesses and contractors hiring for the West White Rose project are required to adhere to the principles set out in the Atlantic Accord legislation, which state that „people residing in the province must first think about training and employment in the work program.“ Husky discussed the project`s issues and risks with the provincial and federal governments. The company proposed ideas to protect the jobs and economic benefits of the project. „We fully appreciate the fact that this project represents billions in public taxes and other expected public benefits. Without them, it won`t happen,“ Peabody said. In 2003 and 2006, exploration drilling in and around the White Rose field led to the discovery of a new North Amethyst field and the understanding of two oil pools that are part of the existing project: West White Rose and South White Rose Expansion. Asked whether Cenovus wanted to deny the project after the merger ended, Brown said it was too early to know.

He said his team was determined to continue the West White Rose project. As investors gather to discuss the future of the West White Rose expansion project, we encourage Husky Energy to continue its initial plan to complete construction of the Concrete Gravity Structure (CGS) in Argentia, nl. We have thousands of highly skilled Newfoundlanders and Labradorians waiting to work on this project. These workers need this employment opportunity to care for their families and contribute to the local economy. – In King, Executive Director, Trades NL „But I think the signal you received today from Husky is that they intend to move forward. They recognize the value of this project. SNC Lavalin, Dragados, Pennecon (SDP) General Partnership is looking for a structural superintendent to join the West White Rose Project in Newfoundland. When you report to the Construction Team (Main Mechanical Outfitting, MMO), you will provide an integral position to the project directly on site in Argentia, NL. „Maintaining the cost of the project through a long delay in a negative economic environment is not an option,“ Peabody added. „We have to find a solution now.“ All funding work is expected to be completed in 2021, but that does not mean that the project will fully resume. In a press release following the announcement, it was simply stated that the funding „protects the possibility of renovating the West White Rose project in 2022, if conditions permit.“ „Dragados Canada is proud to work with partners and husky Energy on this innovative project by providing our knowledge and expertise in the technically complex field of large concrete structures and working with newfoundland and Labrador workers and suppliers,“ said Diego Zumaquero, President of Dragados Canada.

With an expected peak capacity of 75,000 barrels of oil per day (approximately 52,500 bbls/day Husky work of interest), West White Rose is designed to produce light crude oil at low incremental cost and with a lower greenhouse gas emissions intensity than other North American crude oil projects. The Northern Amethyst deposit is the first satellite extension of the White Rose project and has been estimated at 68 million barrels of oil by the Canada-Newfoundland and Labrador Offshore Petroleum Board.

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