Overview

• The 145-metre concrete gravity structure for Cenovus Energy's West White Rose project was towed out of Argentia last week, marking the end of its onshore construction phase.
• Placentia, a town of 1,300, is grappling with reduced labour demand and economic activity following the project's transition to offshore drilling.
• Cenovus CEO Jon McKenzie confirmed the company is concluding its capital investment cycle, decreasing spending and realigning its workforce.
• Local officials are exploring a $100-million dock expansion and wind-energy proposals to create new employment opportunities for affected workers.
• Drilling for the West White Rose project is expected to start later this year, with first oil anticipated in 2026.