Husky Energy is on track to begin pumping oil from the extension to the White Rose oil field next year.
The development plan for the South White Rose Extension got approval from the Canada-Newfoundland and Labrador Offshore Petroleum Board on June 5.
According to Husky's quarterly report released Thursday, the extension will pump oil back to the SeaRose production vessel on the original field.
First oil is expected by the end of 2014.
Husky said it has made another discovery in the Flemish Pass Basin and that it is currently evaluating it.