There appears to be a good chance that Argentia is about to become the next major fabrication site for Newfoundland and Labrador’s offshore oil industry.

Husky Energy has just optioned 20 hectares on the former U.S. military base for the possible construction of a concrete gravity base.

Husky is currently weighing two options for developing the west side of the White Rose oil field.

One would see more of the undersea drill stations that are already in place in other parts of the field.

Bill Hogan is the mayor of Placentia. (CBC)

The other is a gravity-based structure about half the size of the one at Hibernia.

Husky has chosen Argentia as the place to build it, if that option is the one selected.

“Right now, it’s anxious, and anticipation,” Argentia Management Authority CEO Harvey Brenton told CBC News.

“There’s probably a year’s work that the Husky people have to do to evaluate the two options.”

Community leaders believe this could be the beginning of a bright future.

“I’m excited about it, because I think they’re going to come,” Placentia Mayor Bill Hogan said, while acknowledging that optimism is tempered by caution.

Construction would take three years and bring hundreds of workers into the area.

Brenton hopes it would also mark the beginning of Argentia becoming a more permanent construction yard for the offshore oil industry.