Williams said a memorandum of understanding (MOU) paving the way for the project to go ahead was signed today.
Four partners that were set to develop the 731-million-barrel field at a cost of C$6 billion walked away from negotiations with the province last year when Williams demanded an equity share.
The Newfoundland government said in a release today that it now estimated development costs at between C$7 billion and C$11 billion over the 20- to 25-year lifespan of the project, which would produce up to 170,000 barrels of oil a day.
Talks
