C-NLOPB approves White Rose extension

The Canada-Newfoundland and Labrador Offshore Petroleum Board has approved Husky Energy's plan to develop the South White Rose oil field.

It will operate as a satellite field of White Rose, with oil will being pumped through lines back to the SeaRose production vessel.

A Husky spokesperson says work will begin this summer,with first oil from the South White Rose field expected by the end of 2014.

The extension is estimated to contain about 33 million barrels of oil, and will cost about $1.2 billion to develop.