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The following is being distributed at the request of the Canada-Newfoundland Offshore Petroleum Board: Board renews Terra Nova POA for three-year term The Canada-Newfoundland Offshore Petroleum Board has issued a three-year Production Operations Authorization (POA) to Petro-Canada for the Terra Nova oilfield. The current Terra Nova POA was due to expire August 30, 2004. The board decided not to approve Petro-Canada�s application for a new three-year POA in August, but to give a 90-day extension with specific maintenance requirements. While progress on the outstanding issues had been made by the end of November, some issues remained incomplete. The board gave a further 60-day extension to January 29, 2005, with the condition that all required work be completed. "It is important to note that during this period," explained the board�s acting chair and CEO, Fred Way, "the fundamental safety of the FPSO was not in question. Lloyds Registry, the FPSO certifying authority, did a special audit at the board�s request in the fall and confirmed the integrity of the facility for safe operations." The board indicated that before it would issue a new POA, it would conduct a follow-up audit. "We have monitored and audited the work required � both onshore and off," Mr. Way said. "We are now satisfied the required worked has been completed." In addition to the board�s regular audits, maintenance work at Terra Nova will be reviewed quarterly by C-NOPB staff who will also conduct a formal review of maintenance systems at the end of the first year. Media contact: Simone Keough, APR, Communications, (709) 778-1418
Backgrounder In order for any oil and gas related activity to go ahead in the Newfoundland and Labrador offshore area, permission, in the form of authorizations, must be given by the Canada-Newfoundland Offshore Petroleum Board (C-NOPB). One such authorization is the Production Operations Authorization (POA) which allows an operator to conduct production operations in the Newfoundland and Labrador offshore area. The POA is an umbrella-type authorization that indicates regulatory compliance. A POA can be issued when a number of prerequisites are met. Specifically, these prerequisites include verification by C-NOPB staff that all items such as the operating licence, production licence, Canada-Newfoundland benefits plan, certificate of fitness, safety plan, environmental protection plan, declaration of fitness, financial responsibility requirements and resource conservation issues have all been satisfactorily addressed. In addition, a systematic and comprehensive safety assessment of the proposed program is undertaken by C-NOPB staff, as prescribed by the Atlantic Accord legislation. This assessment confirms that the operator has adequately addressed all identified safety hazards and has in place an adequate safety program to manage all such hazards. 2005 01 28 9:55 a.m. |
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