With water depths of some 1,200 metres, Equinor’s Bay du Nord project will use a floating production, storage and offloading vessel, better known as an FPSO, like the one pictured here in this illustration. Officials with Equinor say a final investment decision is expected within two years, with first oil before the end of this decade. (Equinor)
The federal government will formally approve the Bay du Nord offshore oil megaproject after markets close at 4 p.m. ET, CBC News has learned from multiple sources who are not authorized to speak publicly.
CTV was first to report the news.
