Calgary-based Suncor Energy said the Terra Nova floating production, storage, and offloading (FPSO) vessel has safely restarted production and is expected to ramp up in the coming months.
The restart comes after the completion of the Terra Nova Asset Life Extension project, with the FPSO undergoing extensive repairs in a port in northwestern Spain with the goal of extending the vessel’s operational life through 2031.
At more than 290 m long—about the size of three football fields laid end-to-end—and 45 m wide, the FPSO can hold 960,000 bbl of oil and accommodate up to 120 people while producing, according to Suncor.
“Focusing on safety and operational integrity, we have brought this key offshore project online, providing additional cash flow for our shareholders and many benefits to the Newfoundland and Labrador and Canadian economies,” said Suncor President and CEO Rich Kruger. “We appreciate the collaboration and support from the provincial and federal governments regarding this project.”
The FPSO had been out of service since 2019 following an order by the Canada-Newfoundland and Labrador Offshore Petroleum Board for Suncor to suspend production-related operations due to a crack in the vessel’s hull.
Six months after the suspension order, a fire in the vessel’s low-pressure separator while it was shut down for maintenance further clouded its future. In June 2021, the field's partners, led by operator Suncor, agreed to restructure the offshore project ownership to boost plans to extend the vessel’s life.
Partners in the Terra Nova project include Suncor (48%), Cenovus (34%), and Murphy Oil (18%).
The Terra Nova oil field is 350 km southeast of Newfoundland and Labrador. It began production in 2002. Suncor estimates the field has 80 million bbl of producible reserves remaining.
