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AMA Announces the Signing of Property Lease with Husky Oil

Argentia Management Authority Inc. (AMA) is pleased to announce the signing of a property lease with Husky Oil Operations Limited (Husky) today on 20 hectares of waterfront property near Low Room Point on the Argentia Northside Peninsula.

AMA Chair Hedley Burge states, “With the signing of this lease, Husky and its partners are moving forward with plans to construct a unique graving dock facility at Argentia in support of its Wellhead Platform Project for the West White Rose oil field, offshore Newfoundland. The construction of this heavy industrial marine facility and subsequently the construction of a Concrete Gravity Structure (CGS) in support of the Wellhead Platform Project will create hundreds of jobs and business opportunities for the people and businesses of our region and throughout the province”.

In fulfilling its mandate to utilize Argentia’s assets to generate economic development for the betterment of the Placentia region, AMA has been marketing the Port of Argentia and its accompanying industrial property to the province’s offshore industry for many years. AMA’s vision is for Argentia to be Newfoundland & Labrador’s premier heavy industrial seaport. The lease signing and announcements today by the Government of Newfoundland & Labrador, Husky and its partners represent an important step forward for AMA in this work on behalf of the many stakeholders in Argentia’s future.

The excavation of the graving dock site at Argentia will cover a square shaped area over 2 hectares, and down to a depth of 18 metres below Low Mean Tide (LMT). In addition, the facility will include a graving dock gate, enabling the facility to be utilized again and again for other projects.

Harvey Brenton, AMA CEO states, “This announcement today places Argentia in an excellent position. With the gate, Husky and its partners will have a world-class seabase at Argentia with the capability of hosting further large-scale construction and refit projects in support of offshore activities in this region and elsewhere. So indeed this is a special day for Argentia and the people of our region”.

For further information contact:
Harvey Brenton, CEO
Argentia Management Authority
P.O. Box 95, Argentia, NL A0B 1W0
709/227-5502 [email protected]