The Provincial Government today announced that it has cancelled the non-binding memorandum of understanding (MOU) with North Atlantic for the lease of the Bull Arm site and that it will maintain control and ownership of the site.

North Atlantic remains a valued company in the province. The Provincial Government will enter into discussions with North Atlantic with respect to a potential lease of undeveloped areas of the site for its planned wind-hydrogen project.

The marine and industrial facilities at the site, including topsides, drydock, piers, quays, and fabrication facilities, will remain under the management and control of Bull Arm Fabrication.

The previous administration entered into a non-binding MOU with North Atlantic in July 2025 in an arrangement which would have seen the company have control of the entire Bull Arm site.

The Bull Arm Fabrication Site is Atlantic Canada’s largest fabrication site. It spans over 25 square kilometres with 10 kilometres of paved roadway, and 20,600 square metres of enclosed fabrication facilities and marine infrastructure. The site was originally developed for the Hibernia project in the 1990s but has played a key role in the development of a number of major projects since that time, including serving as the location for the construction and integration of major components for the Hebron project. The lease for the Bull Arm Site is currently held by Bull Arm Fabrication Inc., which operates the site on behalf of the Provincial Government.

Quotes
“The Bull Arm site is a significant provincial asset, and it should be used to its fullest potential – for all of us. By maintaining public ownership, we can take advantage of emerging opportunities in defence, as well as ongoing opportunities in the oil and gas sector. This site has tremendous potential, and our goal is to ensure it continues to support quality jobs and serve as a strategic asset for years to come.”
Honourable Lloyd Parrott
Minister of Energy and Mines

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