Husky’s White Rose Oil Field Shut for Third Day on Heavy Ice 2008-04-03 06:45 (New York)
By Sonja Franklin and Alexander Kwiatkowski
April 3, 2008 (Bloomberg) — Husky Energy Inc., the Canadian oil
company controlled by Hong Kong billionaire Li Ka-shing, kept
its White Rose field off Newfoundland and Labrador shut for a
third day because of heavy ice in the area. About 30 workers have been moved off the Searose floating
storage and production vessel that services the field, company
official Margaret Allan said by telephone today.
“Production is still shut in,” she said. “We are
actively monitoring and managing the ice offshore.” She didn’t
give an estimate for when production may resume. Husky shut White Rose, about 218 miles east of the
provincial capital St. John’s, on April 1 on concern pack ice
near the filed may damage facilities. The field was producing
the equivalent of 130,000 barrels of oil a day before the shut-
in and has the capacity to pump 140,000 barrels a day. Husky is the operator of White Rose, with a 72.5 percent
interest. Petro-Canada, the country’s third-largest oil company,
holds the remaining 27.5 percent stake.
Hutchison Whampoa Ltd., Li’s biggest company, holds about
35 percent of Calgary-based Husky’s stock. Li owns about 71
percent of the Canadian oil producer through shares held by his
family plus at least one other company.