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Business opportunities : Global Growth Sustainable Offshore Solutions Canada

The Bay du Nord field in the Flemish Pass off the coast of Newfoundland, Canada with estimated reserves of 300 – 600 million barrels of oil, is expected to be the next development project for Atlantic Canada. Development and production of this field will be demanding as it is remote – 500 km offshore, in water depths of 1200 metre and under very harsh climatic conditions.

Expected to begin development in 2020, by Equinor, Bay du Nord offers business opportunities for Norwegian companies that have technology that can help reduce costs on harsh and remote drilling, maintenance and production. This includes maximizing offshore storage, and efficiencies in transportation of personnel and goods.
At the same time the O&G industry in Newfoundland is in the transition from production to enhanced recovery in mature fields with an increasing focus on Integrated Operations. Digitization and subsea innovation that can assist in cost reductions and operational and maintenance efficiencies are a priority.
Innovation Norway in cooperation with NCE Energy Valley and Norwep are planning to set up a program for Norwegian SME’s to look closer into this market.

Program outline
May – August 2019: Recruitment
Fall 2019: Kickoff meeting in Norway
Fall 2019: First visit to St. John’s, Newfoundland
Winter 2020: Meeting in Norway
Spring 2020: Second visit to St. John’s
Final dates will be decided when the recruitment is done.

Business opportunities
Opportunity areas are within
Clean technology
Remote operations
Integrated operations
Subsea technology
IOR advances
Reduction of waste management
Riser and buoyancy
Maximizing offshore storage
Effective transportation of personnel and goods