NL Offers Owners of Terra Nova Oilfield $175 Million, but Only If Oil Flows Again

NL Offers Owners of Terra Nova Oilfield $175 Million, but Only If Oil Flows Again
The Terra Nova FPSO is shown anchored in Conception Bay, Newfoundland and Labrador, on Oct. 23, 2020. Paul Daly/The Canadian Press
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ST. JOHN'S, N.L.—Newfoundland and Labrador is offering $175 million to the owners of the dormant Terra Nova offshore oilfield, but only if oil starts pumping again.

The announcement came late Thursday afternoon, as rumours of an impending election intensified and funding announcements flowed freely from the governing minority Liberals.