Newfoundland commits government funds to support West White Rose project
ST. JOHN’S, NEWFOUNDLAND, CANADA - Newfoundland and Labrador Oil and Gas Industries Association CEO Charlene Johnson commented on announced financial support for the West White Rose offshore oil and gas project.
“Today’s announcement by the provincial government of $41.5 million dollars to be matched by the partner companies is positive news for the West White Rose project and the offshore oil and gas industry as it supports 331 Newfoundlanders and Labradorians working on the project in 2021. The funding will help maintain the project in warm suspension during 2021 and hopefully position it for a full restart in 2022 and the path to first oil. As discussed today, the West White Rose project has the potential to be a net zero facility and we encourage all efforts to produce a carbon neutral product, one that will remain attractive to investors in a changing market.”
“Noia also welcomes the $32 million dollars allocated specifically to the offshore supply and service sector. This funding could help Noia members, who are currently struggling to stay afloat during the current crisis, retain their employees and innovate for the future of our industry. We look forward to further details of this funding application process being released in the coming weeks.”
“Today is a positive announcement and we must continue our advocacy so that we can ensure our industry, and those who work in it, realizes its potential.”