Canada's offshore weathering the storm

The Maritimes’ offshore is still plugging on with developments and withstanding tricky conditions

DESPITE a string of promising discov­eries, Canada’s offshore has been a mix of promise and disappointment as major players grapple with falling oil prices. After making three of the largest finds in recent memory at Bay du Nord, Harpoon and Mizzen in the deep-water Flemish Pass, Norwegian state oil company Statoil is winding down exploration efforts off the coast of Newfoundland and Labrador as it cuts global staff counts and reigns in costs. Bay du Nord, estimated to contain 300m-0.6bn barrels, was the largest off­shore find in the world when it was an­nounced in 2013. Mizzen is estimated at 200m barrels. A third discovery at Har­poon has yet to be delineated. Mizzen is a joint venture wit