Nalcor Energy has experienced tremendous growth in its oil and gas business. We are committed to taking a leadership role in the exploration and development of our oil and gas resources both offshore and onshore and establishing our role in this sector.

Nalcor Energy is a partner in three offshore developments and is the majority owner and operator of an onshore exploration program on the province's west coast.

In 2009, our Oil and Gas division finalized the purchase of a five per cent working interest in the White Rose Growth Project. In early 2010, Nalcor completed a 10 per cent working interest acquisition in the Hibernia Southern Extension sub sea tie-back project.

In addition to the Hibernia and White Rose projects, Nalcor is also a co-venturer in the Hebron oil field, holidng a 4.9 per cent working interest in the provincie's fourth offshore oil project.

Nalcor has also acquired an average 67 per cent working interest in three onshore exploration permits in the Parsons Pond area on the Great Northern Peninsula.

Nalcor will also obtain a 10 per cent equity position in all future oil and gas projects requiring a Development Plan Approval.