The White Rose project should have produced a total of 436 million barrels of oil by 2038, due to the implementation of a new phase of exploitation of this deposit located in the marine environment, off the coast of Earth. -Newfoundland and Labrador. Once burned, this oil could have generated nearly 170 million tonnes of greenhouse gases (GHGs).
The Canada-Newfoundland Offshore Petroleum Board recently released an update on the total volume of oil expected to be extracted from the White Rose project, an oil field located 350 kilometers offshore and operated by Cenovus companies. and Suncor.
This update stems from the decision, taken last year by the two oil companies, to move forward with the expansion of the exploitation of the field and the completion of a new platform built specifically for this project. Valued at more than 3 billion dollars, it had been put on hold in 2020, due to the economic context resulting from the pandemic.
According to new data from the federal and provincial marine oil and gas industry management agency, the White Rose project will produce a total of 436 million barrels over its lifetime. The previous estimate was around 400 million barrels. Mining began in 2005 and, thanks to the expansion project, operators will be able to continue mining until 2038, 14 years longer than originally planned.
Oil companies hope to begin operations as early as 2026 from the new platform, which includes an imposing concrete structure that will be installed on the seabed in preparation for drilling. At the height of the project, daily production is expected to be 80,000 barrels, according to information released by Cenovus.
Greenhouse gas
Currently, 90% of the oil exploited in the world is flared, mainly in the transport sector. This means that 392 million barrels exploited under the White Rose project could be used for combustion.
According to data from the United States Environmental Protection Agency, each barrel that is burned generates 0.43 tonnes of GHGs. Based on these data, we can therefore estimate that the oil from this flagship project of the oil industry in the marine environment has the potential to generate 169 million tonnes of GHGs. This is equivalent to the average annual emissions of 68 million gasoline-powered cars.
By way of comparison, the Bay du Nord project, authorized last year by the Trudeau government, could generate 116 million tonnes of GHGs, assuming that 90% of the 300 million barrels exploited will be burned. If the deposit contains a billion barrels, as mentioned by the company Equinor, the emissions from the combustion of this oil could reach 387 million tonnes.
Responsible for the Climate-Energy campaign for Greenpeace Canada, Patrick Bonin denounces the desire to launch new exploitation projects. “Any further expansion of oil or gas production is compounding the climate crisis, when we are already seeing an increase and worsening of extreme weather events, such as floods, wildfires, droughts and deadly heat waves. “, he argues.
In light of the most recent reports of the Intergovernmental Panel on Climate Change, Mr. Bonin underlines that the start of fossil energy projects is incompatible with the objective of limiting global warming to 1.5°C , compared to the pre-industrial era. The International Energy Agency also agrees. Canada, which has ratified the Paris Climate Agreement, is in favor of this climate objective set in 2015.
To hope not to exceed this limit, global emissions must peak no later than 2025, before falling by 43% by 2030, compared to the level of 2019.
Upcoming projects
Other mining projects should be added to the industry’s balance sheet in the coming years. The Trudeau government and that of Newfoundland and Labrador should indeed grant over the next few weeks more than 12,000 km2 new marine exploration permits, including one that overlaps the largest marine biodiversity protection area in eastern Canada. There are currently about 36,000 km2 offshore permits.
The companies ExxonMobil Canada, BP Canada Energy Group and Equinor have promised to invest $238 million in exploration on these permits, which result from a call for tenders launched last year and which concerned a territory of nearly 100,000 miles2.
This is part of Newfoundland and Labrador’s desire to double its offshore oil production after 2030. It would then reach 650,000 barrels per day, or a potential of more than 237 million barrels per year. . The federal government and that of the province are planning to launch four other calls for tenders by 2029, with the objective of drilling 100 boreholes.