The operator of the Terra Nova FPSO on Newfoundland's offshore says there are no firm timelines as to when production on the vessel will resume.

In a statement Monday to CBC News, Suncor Energy said production will resume once the cause of a recent methanol leak and small fire is identified.

The Terra Nova is a floating, production, storage and offloading vessel located roughly 350 kilometres southeast of St. John's.

The nearly 300-metre vessel began production in January 2002.

Suncor says it initiated a precautionary and controlled shutdown Oct. 2, following what it describes as "operational issues."

The company reported Thursday that some 3,000 litres of methanol was released from a subsea drill centre.

On Friday, the company reported a further incident when a "small flame" was noticed on the "insulation blanket for the lower medium pressure turret swivel."

The company blamed the flame on an arc in an electrical circuit.

There were no injuries.

Province's second producing oil field

The Terra Nova field was the second offshore discovery in the province to reach production.

The vessel is located southeast of the Hibernia field in the Jeanne d'Arc Basin.

The FPSO produced nearly 17-million barrels of oil in 2014.

According to the provincial government, the Terra Nova produced some 366 million barrels of oil up to the end of 2014, with an estimated value of $26 billion.

The province estimates that roughly 28 per cent of the estimated reserves, or 140 million barrels, remained as of December.