ST. JOHN'S, Newfoundland – Newfoundland and Labrador’s Research & Development Corp. (RDC) says it will invest $4.9 million in a multi-purpose survey, support, and research and development vessel for Arctic waters.
The investment is being provided under RDC’s Petroleum R&D Accelerator Program, which focuses on leveraging R&D investments with potential to impact petroleum exploration, development and operations.
Stationed in St. John’s, Newfoundland and Labrador, the vessel will be built and operated by Fugro GeoSurveys. The total cost is estimated at more than $100 million.
The 80-m (262-ft) purpose-built, modern ice-class vessel is expected to be completed in March 2017.