Oil Production Up 6.5% in December

Oil production in December 2018 was about 7.6 million barrels, up 6.5% (or about 462,000 barrels) relative to December 2017.

Hibernia produced 3,899,627 barrels of oil in December 2018, down 8.6% (or about 365,000 barrels) in comparison to December 2017.

Terra Nova produced 1,178,778 barrels of oil in December 2018, up 22.1% (or about 213,000 barrels) relative to December 2017.

White Rose (including North Amethyst) did not produce any oil in December 2018 because of a halt in operations resulting from an oil spill in November 2018. The project produced 1.2 million barrels of oil in December 2017.

Hebron produced over 2.5 million barrels of oil in December 2018, up 245.3% (or about 1.78 million barrels) in comparison to December 2017.

For the year as a whole, oil production totalled 84.0 million barrels in 2018, up 4.3% (or about 3.4 million barrels) relative to 2017, as a result of higher Hebron production. The Department of Finance’s Budget 2019 forecast projects annual oil production to be 94.2 million barrels in 2019, up 12.1% compared to 2018 as higher production at Hibernia and Hebron offset declines at Terra Nova and White Rose. Further information on the province’s oil and gas industry is available at The Economy 2019 (see Oil and Gas section).

Offshore Oil Production:
Newfoundland and Labrador

Offshore Oil Production graph

f: forecast

Statistical Reference: Statistics used in this analysis were current at the time of writing. For the latest in oil production statistics visit the Newfoundland & Labrador Statistics Agency site.

 

Economic and Project Analysis Division, Department of Finance – (709) 729-3255 – infoera@gov.nl.ca