Nalcor Energy Oil and Gas is leading the exploration of the province’s frontier and deepwater basins by making investments in new geoscience data and analysis to evaluate Newfoundland and Labrador’s undiscovered oil and gas resource potential. Nalcor is also a working interest partner in three offshore developments: the Hebron oil field, the White Rose Growth Project and the Hibernia Southern Extension.
Nalcor Energy has developed and is executing an Exploration Strategy based on global best practices to find and deliver new oil and gas resources for the benefit of the people of Newfoundland and Labrador.
As the provincial energy company, Nalcor Energy undertakes strategic investments in new data acquisition and analysis at the front end of the exploration cycle to enhance knowledge of the prospectivity of offshore Newfoundland and Labrador’s frontier basins, open new areas to industry exploration, and increase Newfoundland and Labrador’s global competitiveness to attract exploration investment. Nalcor is not competitive with industry and therefore does not participate in bidding on land. Nalcor participates on behalf of the province in future projects through equity ownership in new successful developments.