NLIS 4
October 18, 2000
(Mines and Energy)
The following is being distributed at the request of the Canada-Newfoundland Offshore Petroleum Board:
Decision on proposed Hibernia production increase
The Canada-Newfoundland Offshore Petroleum Board (C-NOPB) announced today that the proposal by the Hibernia Management & Development Company (HMDC) to increase the annual oil production limit for the Hibernia field from 49.5 million barrels to 66 million barrels has been approved by the federal and provincial ministers responsible for energy.
Since production at any point is subject to reservoir performance and good reservoir practice, the actual level of production on any given day may vary up to maximum rates approved. As a result, the annual level of production may not reach the limit approved.
The C-NOPB's decision report "Decision 2000.01: Respecting The Amendment To the Hibernia Development Plan, March 2000" is available on its website at www.cnopb.nfnet.com.
Related Reference: C-NOPB News Release February 17, 2000
Reference: Hal Stanley, Chairman and CEO
Media contact: Edsel Bonnell, Public Information Coordinator, (709) 778-1440.
2000 10 18 1:40 p.m.
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