Newfoundland and Labrador’s offshore spans 1.8 million square kilometres with our oil reserves emerging as some of the most carbon competitive in the world.

To enhance our province’s oil and gas potential, the Government of Newfoundland and Labrador established Oil and Gas Corporation of Newfoundland and Labrador (OilCo) from our legacy company Nalcor Energy-Oil and Gas. Our new Crown corporation is leading oil and gas activities in our province and is responsible for all exploration pursuits, along with future investment in offshore developments. We continue to manage the province’s interests in existing oil and gas assets – Hebron, White Rose, and Hibernia Southern Extension. OilCo also manages the Bull Arm Fabrication Site.

Take a deep dive with NESS

The North Atlantic is a big place, we’re making it a lot smaller.

OilCo takes a systematic and scientific approach to evaluating Newfoundland and Labrador’s frontier basins. Through our proprietary Nalcor Exploration Strategy System (NESS), information from multiple sources, studies and reports is united on an interactive map enabling users to display, filter and analyze a vast array of data and information in one location.

Key Facts

line km of new 2-D multi-client data
million km2 of metocean analysis
line km of new 3-D multi-client data
of NL’s offshore basincaptured by resource assessments
leads and prospects and new basin areasdefined by new seismic work
of offshore wells analyzed

We are actively sharing our geoscience knowledge with the global oil and gas industry through our proprietary Nalcor Exploration Strategy System (NESS).

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Our Commitment.

OilCo is committed to providing investment-grade science and thoughtful leadership and guidance that supports the creation of long-term value and wealth. As a result of this commitment, our dedicated team has enhanced understanding of the offshore resources and landed exploration investments.


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