Terra Nova FPSO Life to be Extended by 10 Years

The Terra Nova Joint Venture owners have announced that they are proceeding with a project to extend the life of the Terra Nova Floating, Production, Storage and Offloading (FPSO) vessel.

The asset life extension project will extend the life of the Terra Nova FPSO by 10 years to 2031 and demonstrates Suncor’s commitment to our offshore oil and gas industry.

It is estimated the extension will allow the Terra Nova FPSO to produce an additional 80 million barrels of oil.

Work to extend the life of the FPSO will begin in 2020.