Canada-Nova Scotia Offshore Petroleum Board Issues Call For Bids

From C-NSOPB
Issued December 10, 2018

(Halifax, Nova Scotia) – The Canada-Nova Scotia Offshore Petroleum Board (CNSOPB) has issued Call for Bids NS18-3, which includes two industry-nominated parcels. Bids must be received by May 8, 2019 before 4:00 p.m. Atlantic Time. Successful bidder(s) may be awarded Exploration Licences (ELs), subject to the federal and provincial Ministerial review and approval process set out in legislation.

The Call for Bids NS18-3 parcels are located on the Scotian Shelf, within the Sable Subbasin, where 23 Significant Discoveries have been made to date. The parcels are in shallow water, with maximum water depths up to 100 metres. The NS18-3 parcels are directly adjacent to 10 Significant Discoveries containing an estimated 1.3 Trillion Cubic Feet of recoverable gas and 15 Million Barrels of recoverable oil. A number of undrilled exploration prospects have been identified on both parcels, including the Marmora discovery with proven gas trapped in a sandstone reservoir.

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