The following statement has been issued on behalf of the Honourable Tony Wakeham, Premier of Newfoundland and Labrador:

“Today’s announcement is another positive step forward for the Bay du Nord project and for the future of Newfoundland and Labrador’s offshore energy industry.

“Equinor has made it clear that it remains fully committed to Bay du Nord, is advancing the project toward a final investment decision in early 2027 and is now taking full ownership of the project. That is a strong vote of confidence in Bay du Nord, in our province, and in the long-term potential of our offshore.

“The project continues to move forward as planned. Regulatory, technical and procurement activities remain on schedule, and Equinor has reaffirmed its commitment to safe, responsible development while continuing to evaluate future partnership opportunities as the project progresses.

“Our government has been a strong advocate for Bay du Nord because we know what it represents: thousands of good-paying jobs, opportunities for local businesses, significant economic growth, and long-term benefits for the people of Newfoundland and Labrador.

“We look forward to continuing to work with Equinor and stakeholders as Bay du Nord advances toward a final investment decision. This project remains one of the most important economic opportunities in our province, and today’s announcement reinforces our confidence in its future.”

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