The Government of Newfoundland and Labrador continues to make steady, measurable progress on the Bay du Nord project, grounded in regular engagement, active negotiations, and a shared commitment to delivering long-term benefits for the people of this province. Bay du Nord remains a generational opportunity for jobs, economic growth, and long-term revenues for Newfoundland and Labrador.
“As clearly stated in my government’s platform, we support responsible offshore oil development and are unequivocal in this position,” said the Honourable Tony Wakeham, Premier of Newfoundland and Labrador. “Newfoundland and Labrador is in the oil business. We intend to remain a competitive, reliable offshore jurisdiction.”
“The Government of Newfoundland and Labrador is actively negotiating with Equinor on the Bay du Nord project,” added the Premier. “We will continue to work with Equinor in good faith to create a win for all of us. Equinor understands our position and has signaled a strong willingness to work collaboratively to achieve our shared objectives.”
Since forming government just three months ago, Premier Wakeham and multiple senior ministers have met with Equinor on more than four occasions. These meetings have advanced discussions that have materially moved the project forward. Negotiations are active, focused, and progressing.
Discussions are tied to concrete outcomes, including topsides fabrication and associated work opportunities in Newfoundland and Labrador. Equinor’s recently issued Expression of Interest is a key step in ensuring our resources benefit our people and our province.
“Today’s meeting with Premier Wakeham reinforced a shared commitment to realize Bay du Nord, a project with the potential to deliver lasting value and opportunity for Newfoundland and Labrador,” said Philippe Mathieu, Executive Vice-President, Exploration and Production International, Equinor. “Reaching a framework agreement in the near term is a priority, and I appreciate the Premier’s continued leadership and constructive approach as discussions continue on the remaining key elements.”
Suggestions that the project is at risk due to inaction or uncertainty are inaccurate. The decision to continue discussions reflects the complexity and scale of Bay du Nord and reflects active engagement, not delay. Negotiations are continuing because both parties are working to get the agreement right.
“Bay du Nord matters,” said the Premier. “My government is leading, not posturing, and we will continue to do the work required to move this project forward for all of us.”
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