Government conducting review into current oil and gas interests

The provincial government will conduct a review into the province’s current offshore oil and gas interests.

The review will focus on its 4.9 per cent equity position in Hebron, 8.7 per cent equity position in the Hibernia Southern Extension, and five per cent equity position in White Rose Extension project.

Rothschild & Co. will lead the process, and any additional work related to legal, regulatory, tax and accounting requirements will be contracted as necessary.

At this time, the government has not made any similar decisions with respect to any other asset included in the review.