Hibernia Proposal Being Considered by Committee to Help Offshore Oil Industry – VOCM

Hibernia Proposal Being Considered by Committee to Help Offshore Oil Industry

(Photo by Jack Lawson.)

The committee tasked with dispersing the $320 million from Ottawa to help Newfoundland and Labrador’s beleaguered offshore oil industry weather the COVID-19 storm currently has two or three proposals before it, including one from Hibernia.

HMDC got $38 million just before Christmas to help get that project back to drilling, and the same company has a second proposal before the committee. President Stephen Edwards would not elaborate.

Provincial Energy Minister Andrew Parsons says a lot of due diligence has to go into the application process. The committee has until the end of 2021 to allocate the remaining $230-M.

Federal Natural Resources Minister Seamus O’Regan says there are two main objectives: To help people and reduce emissions from our oil.

He says the decision have been left to those on the ground, the ones who know the industry best.