Failure to revive a mothballed production project prompted Calgary-based Suncor Energy Inc. to announce Tuesday a C$425 million ($319 million) write down on its 27.5% share of an oilfield offshore of Newfoundland.

Suncor said majority owner Husky Energy Inc. stranded a 200 million bbl White Rose field addition by suspending construction when the Covid-19 virus pandemic gutted global oil markets 10 months ago.

The Jan. 1 closure of Cenovus Energy Inc.’s takeover of Husky “has cast significant doubt on the future of the West White Rose project,” Suncor said. The company added that the federal and local governments have agreed to provide “some support” for the West White Rose project in 2021.

Cenovus, meanwhile, said more review would be done of the West White Rose...