RDC funds R&D for new exploration vessel

Newfoundland's Research and Development Corp (RDC) is investing $4.9 million in an 80-metre vessel designed for harsh environment and R&D work. The vessel is to be built and operated by Fugro GeoSurveys (a division of the Geospatial Services group of Dutch-based Fugro BV), at a cost of $100-million over 10 years. RDC's contribution is being provided under its Petroleum R&D Accelerator Program, which is focused on leveraging R&D investments with the potential for impacting petroleum exploration, development and operations. The funding will allow the vessel to conduct R&D work for 90 days annually. The ship will be based in St John's and is slated for completion by 2017....