Equinor, BW Offshore Sign FEED Deal for C$14 Billion Bay du Nord Project
EQNR•Equinor signed a FEED agreement with BW Offshore for Bay du Nord offshore Newfoundland, advancing design and execution planning to end-2026 toward a FID in 2027. The project features 400 million barrels and C$14 billion capex, targets first oil in 2031, includes bp’s 40% stake and a St. John's office.
1. FEED Agreement with BW Offshore
Equinor has signed a front-end engineering and design agreement with BW Offshore for the Bay du Nord offshore Newfoundland project, advancing the development phase after BW Offshore’s selection as preferred FPSO provider in late 2025.
2. Project Scope and Investment
The Bay du Nord field contains over 400 million barrels of oil in the Flemish Pass Basin, with estimated capital expenditure of C$14 billion (US$10.24 billion); partner bp holds a 40% interest in the development.
3. Local Engagement and Timeline
The FEED phase, running until end-2026, will refine the FPSO design, execution plan and delivery schedule while aligning commercial contracts and securing key vendors; a final investment decision is targeted for 2027 and first oil in 2031, supported by a new St. John's office.
