November 12, 2013 / 9:28 PM / 5 years ago

Canada is open to talk about Hibernia stake: finance minister

The Hibernia offshore oil production rig prepares to be towed, in the predawn fog, from its construction berth in Trinity Bay, Newfoundland, to the oil fields 300 kilometers from St. John's in the North Atlantic. The Hibernia rig is the largest in the world and its concrete base will rest on the ocean floor.

EDMONTON (Reuters) - Canada is open to talks about what to do with its 8.5 percent stake in the Hibernia offshore oil project, Finance Minister Jim Flaherty said on Tuesday.

“Certainly we’re open to discussions about Hibernia,” Flaherty told reporters in Edmonton. He declined to say when the government might sell its stake and how much such a sale might raise.

Along the with Canadian government, the other partners in Hibernia are: Suncor Energy Inc, with 20 percent; Exxon Mobil Corp, with 33.125 percent; Chevron Corp, with 26.875 percent; Murphy Oil Corp with 6.5 percent and Statoil with 5 percent.

Reporting by Nia Williams, writing by David Ljunggren

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