Nalcor is a co-venturer in the Hebron oil field, holding a 4.9 per cent working interest in the province's fourth offshore oil project.
The Hebron site lies 350km south-east of the Newfoundland and Labrador’s capital St John's, in the Jeanne d'Arc Basin. It consists of the Hebron, West Ben Nevis and Ben Nevis fields.
Nalcor established its stake in the project after the other joint venture partners signed a co-development agreement with the provincial government in August 2008 to give the province a share of the field's revenues.
Estimated recoverable reserves in Hebron are put at 400m to 700m barrels of 18-25º API oil, making it the second-largest field in the Jeanne d’Arc Basin (after Hibernia).
For its work on this site, Nalcor has prepared its Bull Arm facilities for one of our most ambitious projects: the construction of the gravity-based structure (GBS) for the purpose of oil extraction in the Hebron oil field. Construction of the Hebron GBS is scheduled to start next year. When completed, the GBS is designed to remain fixed to the ocean's floor through gravity alone, with integrated drilling and production topsides. It will have the capacity to store in excess of 1 million barrels of oil in storage compartments.