HIBERNIA PROJECT COULD HE MOTHBALLED - MAYBE

Contradictory statements over a timetable to mothball Hibernia oil field development project off Newfoundland have cast new doubts on the future of the $5.2 billion program. Petro-Canada Chairman Bill Hopper said in a Washington speech the project will be shelved in 60 days unless a new partner is found to replace Gulf Canada Ltd. Gulf, a 25% partner, withdrew because it could no longer afford the cost (OGJ, Feb. 17, p. 29).

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