Premier and Federal Finance Minister Discuss Bay du Nord Project
Last week, Premier Tony Wakeham met with Federal Finance Minister François-Philippe Champagne to discuss the Bay du Nord project. This conversation is timely, as Equinor has been indecisive about its plans for the deep-water oil well for over two years.
Bay du Nord Project Overview
The Bay du Nord project is a significant offshore oil development located near Newfoundland and Labrador. The provincial government is eager to see the necessary infrastructure for this project built locally, which would potentially benefit the regional economy.
Equinor’s Indecision
- Equinor has not provided a clear plan regarding the development of the deep-water oil well.
- The company has been evaluating options for over two years without making a definitive announcement.
Government’s Position
The Wakeham administration is vocal about its ambitions for the Bay du Nord project. It emphasizes the importance of constructing infrastructure within Newfoundland and Labrador to maximize local benefits.
The meeting took place in Ottawa, reinforcing the provincial government’s commitment to ensuring that local interests are prioritized in the project’s development.
