MUN Science to benefit from NL's compensation in Hebron dispute

October 12, 2012

The Newfoundland and Labrador government will collect $150 million in compensation from ExxonMobil after both parties settled their dispute concerning in-province fabrication of a third offshore drilling equipment module for the Hebron Project. The NL government announced Thursday it will use the payment to make strategic investments in the province's healthcare and education systems, including the development of core science infrastructure at Memorial University. MUN president Gary Kachanoski says the province's announcement provides the institution with certainty that funding will be there as the university moves forward with its core science infrastructure plan. NL Premier Kathy Dunderdale says planning for the projects funded by the settlement will start immediately, but work on the projects will not begin until 2016, which is when the province will receive the settlement. NL News Release | MUN News | CBC