Norwegian operator Equinor has reignited its stalled Bay du Nord oil project offshore eastern Canada with plans for a larger floating production, storage and offloading vessel that can produce 200,000 barrels per day of oil.
The development was shelved in 2020 due to the impact of the Covid-19 pandemic on a capital intensive project, but two successful exploration wells have since beefed up the estimated crude resource to about 1 billion barrels, and persuaded Equinor to revamp its original development plan for the field.
