Suncor Energy announced Monday the Terra Nova FPSO has safely restarted following the completion of the Terra Nova Asset Life Extension project. Production is expected to ramp up over the coming months.

“Focusing on safety and operational integrity, we have brought this key offshore project online,
providing additional cash flow for our shareholders as well as many benefits to the Newfoundland and
Labrador and Canadian economies,” Rich Kruger, Suncor’s president and chief executive officer, said in a news release. “We appreciate the collaboration and support from the provincial and federal governments regarding
this project.”

Terra Nova is an oil field located offshore Newfoundland and Labrador approximately 350 kilometres southeast of St. John’s. The Terra Nova Partners are Suncor – 48%, Cenovus – 34%, and Murphy Oil Corporation – 18%.