Packed Placentia trade show symbolic of renewed confidence as oil project nears restart

A two-day showcase for businesses in Placentia Bay has concluded, and the mood at the Star of the Sea Hall in the Town of Placentia this weekwassymbolic of renewed confidence in one ofNewfoundland and Labrador's most industrialized regions.

On Tuesday and Wednesday, the hall wascrammed with the maximum number of business exhibits,and with delegates standing shoulder to shoulder, sharing meals and ideas, andcommenting on the positive vibes in the room.

"If this continues, I think we'll have outgrown our venue for next year," said Claudette Pittman, who chairs the organizing committee for the Placentia Bay Industrial Showcase.

It was the 25th anniversary of the event, and the pandemic blahs were replaced by optimism.

"The sky is the limit. We're very very excited," said Scott Penney, CEO of the nearby Port of Argentia.

"Thevibe is very positive," added Trades N.L. executive director Darin King. The labour organization represents 16 building trades unions, with a membership of more than 15,000 workers.

• Cenovus restarting West White Rose oil project, stalled under COVID-19 pandemic

There was also plenty oftalk about the challengeof making the most of all the opportunities that are either in high gearor on the horizon.

"We all have to recognize the changing economy, our changing world, and of course the emphasis on renewables," said Pittman.

The trade show took place not far from the Port of Argentia, which has become a hub formining, shipping, oil and gas,fishing and aquaculture activity.

• Renewables steal spotlight at conference as hydrogen project pitched for Placentia

But lately there's talk about green energy projects, with a plan by U.S.-based Pattern Energy to develop a massivewind and hydrogen project at theport.

• From oil to wind, Argentia makes about-face in energy industry with $65M deal

Argentia is poised to become a storage yard for wind turbine components being transported from Europe to the United States.

"The national and international notoriety of the port, and what it can do with its own infrastructure, has really changed the dynamic in our region," said Penney.

Higher than the Great Pyramid of Giza

And then there's the West White Rose offshore oil project. The project was suspended 2 years ago as the pandemic began upending the energy sector. The concrete gravity structure was 65 per cent complete at the time, and the oil companies were reviewing all options, including cancelling the project.

But Cenovus, which merged with Husky nearly two years ago, announced last spring that West White Rose would bloom again, with a massive concrete pour planned for the second quarter of 2023.

There are currently 175 workers at the site, but that number will grow to roughly 1,500 in the coming months.

"It's very good, and it's good for us and the province because we get our trades workers back to work," said King.

The platform is being built inside a specially constructed graving dock, and the large base more than 120 metres wide currently rises to a height of 46 metres.

But the plan is to construct the centre shaft over two months next spring, increasing the overall height of the structure to nearly 150 metres, which is higher than Egypt's Great Pyramid of Giza.

The CGS, as it's called, will be floated out to sea in 2025 and mated with a topside module, which is being built in Texas and is nearly 90 per cent complete. It will then be towed to the White Rose oil field, about 350 kilometres east of St. John's, and set down on the ocean floor, some 120 metres below the surface.

"Acouple of months of hookup and commissioning, and then we'll start turning the bit. Hopefully we'll have first oil in 2026," said Mike Rudofsky, the project's senior manager.

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