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ST. JOHN’S, N.L. — Husky Energy says it going ahead with the West White Rose project off Newfoundland and Labrador, with first oil five years away.

The company said in a statement today that it will use a fixed wellhead platform tied to the SeaRose floating production, storage and offloading vessel.

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Husky says first oil is expected in 2022 and could achieve a gross peak production rate of approximately 75,000 barrels per day by 2025.

CEO Rob Peabody says the project is of a scale approaching the original White Rose development and will be able to use the existing SeaRose production vessel to process and export production.

The company says operating costs are expected to be less than $3 per barrel over the first 10 years with the tie-back to the SeaRose operation.