Statoil Tops $969M of Bids Pledged for Canada Offshore

Operators in Canada’s fields offshore Newfoundland have to contend with the threat of icebergs and 30-meter waves reaching their platforms. Companies have been attracted to the area in recent years after advances in technology to allow drilling in deeper waters and following disappointments in other offshore regions, such as the Arctic, Morocco and the Falkland Islands, according to Cox.

To contact the reporter on this story: Rebecca Penty in Calgary at rpenty@bloomberg.net. To contact the editors responsible for this story: David Marino at dmarino4@bloomberg.net Carlos Caminada


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