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Posted: April 2015
Oil Production Commentary, 2014
Next due: September 2015

Oil Production Down 5.7% in 2014

Oil production in 2014 was 78.9 million barrels (MMbbl), down 5.7% (-4.7 MMbbl) relative to 2013.

Hibernia produced 42.2 million barrels of oil in 2014, down 14.7% (-7.2 MMbbl) in comparison to 2013.

Terra Nova produced 16.8 million barrels in 2014, up 21.7 % (+3.0 MMbbl) relative to 2013.

White Rose (including North Amethyst) produced 19.9 million barrels of oil in 2014, down 2.3% (-0.5 MMbbl) over 2013.

The Department of Finance's April 2015 forecast predicts annual oil production to be 78.3 million barrels in 2015, down 0.7% over 2014. Further information on the province's oil and gas industry is available in our publication The Economy 2015 (see Oil and Gas section).

Offshore Oil Production:
Newfoundland and Labrador

Statistical Reference: Statistics used in this analysis were current at the time of writing. For the latest in oil production statistics visit the Newfoundland & Labrador Statistics Agency site.

Economic Research & Analysis Division, Department of Finance - (709) 729-3255 - infoera@gov.nl.ca

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