Terra Nova is an oil field development project based off the coast of Newfoundland, discovered in 1984 by Petro-Canada.

Terra Nova is the first harsh environment development in North America to use a Floating Production Storage and Offloading (FPSO) vessel, Terra Nova.

Production from the field began in January 2002 off the coast of Newfoundland, with an expected life of 15–17 years.

After stopping production in 2019, the FPSO was moved to Ferrol, Spain for repairs.

The oil is produced from Late Jurassic sandstone within the Jeanne d'Arc Basin.