History
In 1979 the drill rig Gulftide struck success and the Venture field was discovered. At the time, the cost of developing the gas field proved prohibitive. Extreme North Atlantic Ocean weather and low natural gas prices were blamed. In 1995, improvements in drilling technology along with an increase in natural gas prices made recovering the gas economic allowing SOEP to emerge. In January ground was broken for the Goldboro gas plant. In November, the Galaxy II rig spuds the first production well at the Thebaud field. The Thebaud platform and wellhead were installed in August 1999. In September, the sub-sea pipeline, linking the Sable Island fields to Goldboro gas plant 225 km (140 mi) away, was completed. In November, construction of the fractionation plant and gas plant were completed and first natural gas was recovered a month later offshore. First gas shipped to market in January 2000.
Further information: History of the petroleum industry in CanadaRead more about this topic: Sable Offshore Energy Project
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