Insight

Atlantic Canada Upstream: 2017 in review

03 January 2018

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03 January 2018

Atlantic Canada Upstream: 2017 in review

Report summary

2017 was a year of mixed sentiment in Atlantic Canada. After a successful bid round with new international players at the end of 2016 as well as strong exploration results in the Flemish Pass, there was the hope that the momentum would carry. While there was some positive news in 2017, headwinds have emerged. In this Insight, we examine present and future production growth, along with the results of offshore licensing rounds in 2017. Further, we provide a preview of what to expect in 2018.

New projects move forward
- West White Rose receives corporate sanctioning
- Hebron achieves first oil
Licensingmuted, expect more in 2018
Decommissioning comes into view
Regulatory certainty achieved, but UNCLOS uncertainty remains
Exploration update
- One step forward, two steps back in 2017
- What to watch in 2018