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The Eirik Raude Drill Rig Mortier Bay, Marystown May 15, 2007

The Eirik Raude Drill Rig Mortier Bay, Marystown May 15, 2007. Marystown Shipyard. Cow Head. The Facilities:. Current Picture Marystown, NL, May 2007. Employment level of 550 people Attractive wages, economic spin-offs Eirik Raude Drill Rig New Brunswick LNG Project. White Rose Project

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The Eirik Raude Drill Rig Mortier Bay, Marystown May 15, 2007

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  1. The Eirik Raude Drill Rig Mortier Bay, Marystown May 15, 2007

  2. Marystown Shipyard Cow Head The Facilities:

  3. Current Picture Marystown, NL, May 2007 • Employment level of 550 people • Attractive wages, economic spin-offs • Eirik Raude Drill Rig • New Brunswick LNG Project

  4. White Rose Project Sea Rose FPSO Mortier Bay, Marystown August 2005 • 6,000,000 personnel hours of employment • $395 million fixed cost • Infrastructure improvements

  5. Hebron Project • Averaged 1,100 jobs per year for four years • Infrastructure improvements • Better skilled workforce Potential Benefits:

  6. Laurentian Sub Basin Development Potential Benefits • Burin Peninsula supply base • Direct employment for Marystown facilities • Socio-economic benefits • Delayed until 2009 World demand for drill rigs Delay in developing gas royalty regime

  7. Joint Support Ship Project Benefits: • Significant benefits to the local and provincial economy; • $2.1 billion plus $800 million 20-year service contract; • Projected employment in the range of 600-700 workers for 9 years; • Capital improvements at the Cow Head site (ie, graving dock) would make the facility a world-class yard; and • For comparison purposes, the White Rose/Sea Rose FPSO project was approximately $300-400 million to the local economy.

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