BHP’s aggressive move to pick up a pair of blocks off Canada’s Newfoundland & Labrador late last year marked its entry into a new region, but the move was consistent with the company’s approach in looking for big hydrocarbon potential with an appealing operating environment and fiscal conditions, said Geraldine Slattery, president of petroleum operations.
“The geology in Canada is analogous to the North Sea,” Slattery said, citing past production of 4 billion barrels in the Jeanne D’Arc basin to the south.
