The Terra Nova field was discovered in 1984 by the drilling and testing of the Petro-Canada et al Terra Nova K-08 well. Following the initial discovery, eight wells were drilled to define the structure of the field. A Significant Discovery Area for the Terra Nova field was officially declared on October 2, 1985. The field began oil production from the Terra Nova FPSO (Floating Production Storage and Offloading) vessel on January 20, 2002.
The Terra Nova field is located on the northeastern Grand Banks approximately 350 km southeast of St. John’s, Newfoundland, in a water depth of about 90 to 100 metres. At the time it was initially proposed for development, the field had an area of about 128 square kilometers and the proponent estimated that it contained 400 Million barrels of recoverable oil.
For estimates of recoverable oil and gas reserves and resources and production statistics please see the Canada-Newfoundland and Labrador Offshore Petroleum Board website.
The links below will take you to the Canada-Newfoundland and Labrador Offshore Petroleum Board’s website. Neither the Department of Industry, Energy and Technology nor the C-NLOPB warrant the information contained on the site to be accurate and therefore are not responsible for any errors or omissions.
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