Talks continuing on West White Rose project offshore Canada
Jan. 5, 2021
Suncor Energy will record an after-tax impairment charge of around $425 million on its share of the White Rose asset and West White Rose project offshore Newfoundland.
Although White Rose remains in production, the new platform-based West White Rose development – which operator Husky Energy suspended last year – was set to access 200 MMbbl of oil and extend the life of the White Rose facilities by around 14 years.
According to Suncor, the future of the West White Rose project is now uncertain under the new operator, Cenovus.
Discussions continue with the operator and the government of Newfoundland and Labrador, with the latter having agreed to provide support for the project in 2021.
