Petro-Canada is one of the largest integrated oil and gas companies in Canada and a significant international player. With a strong reputation for ethical conduct, environmental responsibility and corporate citizenship, Petro-Canada is building a world-class future on a solid and uniquely Canadian foundation.
With interests in every major Grand Banks discovery to date and exploration prospects off Newfoundland and Labrador, Petro-Canada is a major player off Canada’s East Coast.
Petro-Canada
is the operator, and at 34 per cent, the largest interest shareholder
in Terra Nova, which achieved first oil in January 2002. Petro-Canada
also holds a 20 per cent interest in nearby Hibernia, the first Grand
Banks development, and has a 27.5 per cent interest in the White Rose
project, which is currently under development and expected to achieve
first oil in early 2006. Petro-Canada also holds interests in other significant
discoveries, and is targeting opportunities in the largely unexplored
deeper waters just off the Grand Banks.