HIBERNIA AID GETS OKAY

Federal spending on the Hibernia oil field development project off Newfoundland has received final legislative approval in a vote by the Canadian Senate. The vote approves a package worth $2.7 billion in grants and loan guarantees for the $5.2 billion project to be undertaken by a group led by Mobil Oil Canada Ltd. Initial production of 110,000 b/d is slated for late 1996. Copyright 1990 Oil & Gas Journal. All Rights Reserved.

Nov. 12, 1990

Federal spending on the Hibernia oil field development project off Newfoundland has received final legislative approval in a vote by the Canadian Senate.

The vote approves a package worth $2.7 billion in grants and loan guarantees for the $5.2 billion project to be undertaken by a group led by Mobil Oil Canada Ltd.

Initial production of 110,000 b/d is slated for late 1996.