In early 2010, Nalcor completed a 10 per cent working interest acquisition in the Hibernia Southern Extension sub sea tie-back project. This project includes two new licenses, as well as an area of the main field covered by a separate license.

In addition to its working interest in the project, Nalcor Energy - Oil and Gas has also acquired a significant amount of valuable high-quality geological data for the entire Hibernia field that will be useful in identifying possible future expansions.