Cenovus reports third-quarter profit | CTV News [Video]

Cenovus Energy Inc.’s West White Rose project off the coast of Newfoundland has reached a major milestone with the completed refurbishment of the massive vessel that will operate in the expanded offshore oilfield.

The Calgary-based Cenovus provided an update Thursday on the progress of its West White Rose project, which it said is on schedule and about 85 per cent complete.

West White Rose is a multi-billion-dollar extension of the existing White Rose offshore oilfield, of which Cenovus is the operator and majority owner. Its joint venture partners are Suncor Energy Inc. and OilCo Newfoundland and Labrador.

• Sign up for breaking news alerts from CTV News, right at your fingertips
• The information you need to know, sent directly to you: Download the CTV News App

The project is expected to add 14 years of production life to the White Rose field, which began producing oil in 2005.

It involves the …