The Eirik Raude Drill Rig

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Presentation transcript:

The Eirik Raude Drill Rig Mortier Bay, Marystown May 15, 2007

Marystown Shipyard The Facilities: Cow Head

Current Picture Marystown, NL, May 2007 Employment level of 550 people Attractive wages, economic spin-offs Eirik Raude Drill Rig New Brunswick LNG Project

White Rose Project Sea Rose FPSO Mortier Bay, Marystown August 2005 6,000,000 personnel hours of employment $395 million fixed cost Infrastructure improvements

Hebron Project Potential Benefits: Averaged 1,100 jobs per year for four years Infrastructure improvements Better skilled workforce

Laurentian Sub Basin Development Potential Benefits Burin Peninsula supply base Direct employment for Marystown facilities Socio-economic benefits Delayed until 2009 World demand for drill rigs Delay in developing gas royalty regime

Joint Support Ship Project Benefits: Significant benefits to the local and provincial economy; $2.1 billion plus $800 million 20-year service contract; Projected employment in the range of 600-700 workers for 9 years; Capital improvements at the Cow Head site (ie, graving dock) would make the facility a world-class yard; and For comparison purposes, the White Rose/Sea Rose FPSO project was approximately $300-400 million to the local economy.