In the southern Grand Banks offshore Newfoundland, ConocoPhillips operates and holds an average 55 percent interest in four contiguous exploration licenses in the deepwater Laurentian basin, which total more than four million acres. In addition, ConocoPhillips holds a 35 percent interest in four natural gas discoveries offshore Labrador. Development of these fields depends on the continued development of industry infrastructure for offshore Labrador natural gas.
ConocoPhillips’ current activities are focused on the Laurentian sub-basin, located 200 kilometres offshore south of the Burin Peninsula. We have secured a drilling rig and are working hard to be in a position to drill an exploratory well sometime in late 2009 or early 2010.
For more information about opportunities in our Atlantic operations, please visit the Careers and Vendor Relations sections of this web site.