Canadians say find off Newfoundland a 'significant' one

A discovery off Newfoundland made earlier this year by Amoco Canada Petroleum Co. Ltd. has been declared a "significant discovery" by the Canada-Newfoundland Offshore Petroleum Board (Cnopb).

June 29, 1998

2 min read

A discovery off Newfoundland made earlier this year by Amoco Canada Petroleum Co. Ltd. has been declared a "significant discovery" by the Canada-Newfoundland Offshore Petroleum Board (Cnopb).

Based on the results of West Bonne Bay C-23 well on Exploration License 1022, the well meets Cnopb's definition of a significant discovery: "A significant discovery is one which, by flow testing, the well demonstrates the existence of hydrocarbons in a geological feature, and, having regard to other geological and engineering factors, suggests an accumulation of hydrocarbons that has the potential for sustained production."

Amoco is operator and 80% interest owner in the well. Petro-Canada Ltd. and Norsk Hydro each own 10% (OGJ, Aug. 25, 1997, p. 112).

The firms applied to Cnopb in April to have the find declared a significant discovery.

Amoco said it will seek investment partners because it hopes to drill a second well in 1999.

Test results on C-23 have not been released, but Amoco said hydrocarbons flowed to surface at the first well, confirming the presence of an oil-bearing reservoir. Reservoir size is somewhat smaller than the 300 million bbl originally hoped for, but flow rates were strong, said the company.

The well lies 9 miles northeast of Terra Nova field.