Shell is buying a 30 per cent stake in the Bay du Nord oil project off Newfoundland, joining operator Equinor (70%) in what would be Canada's first-ever deepwater oil development.
Production would flow through an FPSO built by Norway's BW Offshore — deepwater tech Canada has never deployed at home. First oil is still years and billions away.
While Alberta fights Ottawa over pipelines, the Atlantic quietly builds the next frontier. Bay du Nord proceeding would rebalance where Canada's oil future lives — and who gets paid.
Sources: CBC News. Context from the Young Hadene newsroom.
A proposed deepwater oil project off Newfoundland — a Canadian first.
Equinor 70% (operator), Shell 30% incoming.