The Newfoundland offshore oil & gas industry is involved in the search & recovery of hydrocarbons on the Grand Banks of Newfoundland and off coastal Labrador, an eastern province of Canada. Management of the resources and industry is provided by the Canadian-Newfoundland Offshore Petroleum Board (C-NLOPB).
While water depths are shallow, the Grand Banks is considered a harsh environment. The confluence of Labrador and Gulf currents are responsible for heavy fog. Hurricanes and tropical storms are carried by the Gulf current to the Grand Banks. Icebergs are brought by the Labrador current from Greenland and the Arctic. Waves can reach up to 40 feet. High winds and temperatures near and below the freezing point are common.