The Canadian Press

2015-06-17 | NL Oil Development

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The vice-president of North American exploration for Statoil says the remote Bay du Nord site off Newfoundland faces "harsh realities" on a long path to development. Jez Averty (AH-ver-tee) says much has changed since oil prices crashed, although the company remains optimistic about the Flemish Pass. (Premier Paul Davis made headlines Tuesday when he said he's hopeful a term sheet to develop Bay du Nord can be reached "in coming weeks." Statoil says exploration is to continue until next May.)

Date: 2015-06-17
Placeline: ST. JOHN'S, N.L.
Source: The Canadian Press
Length: 15 seconds

Transcript Prediction: << we are also acutely aware of the challenges that lie in front of us if we are to deliver on the promise of the Flemish part it is not business as usual it is not a walk in the park >>


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