Oil production totalled 62.3 million barrels in the first half of 2008, down 10.2% relative to the same period in 2007. The decrease is mainly the result of a notable decline in production at the White Rose field.

Hibernia produced 24.4 million barrels of oil in the January to June period, down 2.2% over the same period of 2007. 

Terra Nova produced 20.0 million barrels of oil in the first half of 2008, representing an 8.5% decline over the same period of 2007. 

White Rose produced 17.8 million barrels of oil in the January to June 2008 period, down 20.7% from 22.5 million in the same period of 2007. The drop in production is due to a 13-day maintenance shut down early in the year. In addition, severe ice conditions caused the SeaRose FPSO to halt production on two occasions in early April. 

The Department of Finance’s April 2008 forecast projects annual oil production to decrease to 111.2 million barrels, down about 17% over 2007. Further information on the province’s oil and gas industry is available at  The Economy 2008.  (see Oil and Gas).