Search for the next monster field boosts exploration off Newfoundland

After three rough years, Newfoundland and Labrador’s offshore oil industry is in recovery mode as the Hebron project gets ready to produce first oil, the West White Rose project starts construction and exploration activity surges, fuelling hope of another major development. Among those leading the charge are international companies that cooled off on the landlocked oilsands — Norway’s Statoil ASA, France’s Total S.A., China’s CNOOC Ltd. and the U.K.’s BP PLC — but are motivated to find the next monster Canadian offshore field -- More...