Cenovus Energy expects to deliver offshore production next year in the range 65,000 to 75,000 boe/d.
This will include 10,000 to 15,000 boe/d offshore Newfoundland and Labrador following the resumption of operations at the White Rose field (the FPSO Sea Rose underwent overhauls earlier this year in Belfast).
Production from the Asia-Pacific region should be between 55,000 and 60,000 boe/d.
Cenovus will allocate up to $1 billion capex, mainly for completion of the West White Rose project. The topsides and concrete gravity structure for the field’s platform recently achieved mechanical completion and will be floated offshore for installation at the field in 2025. Development drilling should begin in late 2025.
First oil from West White Rose should follow during the first half of 2026, with peak net production to the company of about 45,000 bbl/d by 2028.
