ST. JOHN’S, NL – The Bull Arm fabrication yard where the Hibernia offshore production platform was constructed is up for sale. It is currently owned by the Government of Newfoundland and Labrador through it crown corporation, Nalcor Energy.
The site has a long history in Newfoundland offshore oil industry. It was developed for the Hibernia project and was used during the construction of the Hebron production platform and Terra Nova FPSO but now mainly used for storage of oil rigs and supply ships.
Two Newfoundland and Labrador companies, D.F Barnes and NARL Marketing, are in negotiation with the government to buy or lease the largest fabrication facility in Atlantic Canada.
Energy Minister Andrew Parsons says they hope to maximum value for the province from a deal.
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