Overview

• The 145-metre concrete gravity structure for Cenovus Energy’s West White Rose project has been towed out of Argentia and is en route to the offshore oilfield.
• Employment on the project peaked at 2,421 workers in spring 2023 but has now dwindled to a few hundred, with the workforce set to phase out completely after site cleanup.
• Cenovus Energy CEO Jon McKenzie confirmed the company is concluding its investment cycle, decreasing capital spending, and resizing its labour force.
• Local leaders are looking to a $100-million dock expansion at the Port of Argentia and a proposed wind-energy development for future job prospects, though these require different skill sets.
• The project’s completion is expected to reduce local economic activity, as businesses adjust to the end of the spending boost provided by construction workers.