HIBERNIA PLATFORM BASE FLOATED IN NEWFOUNDLAND

The 117,000 metric ton gravity base for the Hibernia oil field development project off Newfoundland has been floated without leaks. The structure, built for a development group led by Mobil Oil Canada Ltd., was floated in a dry dock where it took shape at Bull Arm, near St. John's, Newfoundland. Construction of the dry dock site began in October 1990, and construction of the offshore structure began in September 1992.

Oct. 17, 1994

The 117,000 metric ton gravity base for the Hibernia oil field development project off Newfoundland has been floated without leaks.

The structure, built for a development group led by Mobil Oil Canada Ltd., was floated in a dry dock where it took shape at Bull Arm, near St. John's, Newfoundland. Construction of the dry dock site began in October 1990, and construction of the offshore structure began in September 1992.

The structure will be towed by tugs to a construction site about 1/4 mile offshore, where the unit and its topsides will be completed to a height of 364 ft. Date of the tow-out, scheduled for early November, will depend on weather.

Hibernia field, on the Grand Banks, is scheduled to start production in 1997 at a rate of about 110,000 b/d.

Capital costs for the project are estimated at $8.5 billion (Canadian) and operating costs at $7.4 billion.