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Canada-Nova Scotia Offshore Petroleum Board Issues Call for Bids


Issued July 24, 2017

(Halifax, Nova Scotia) The Canada-Nova Scotia Offshore Petroleum Board (CNSOPB) has issued its Call for Bids NS17-1 for Exploration Licences consisting of three parcels. Bids must be received by December 14, 2017 before 4:00 p.m. Atlantic Time. Any successful bidder(s) will be awarded Exploration Licences subject to federal and provincial Ministerial approval.

The parcels are located in water depths of 50 to 450 metres, east of Cape Breton Island in a geological region known as the Sydney Basin. Only two wells have previously been drilled in the offshore portion of the Sydney Basin, and both wells encountered gas in shallow sandstone formations. The CNSOPB has completed a geoscientific interpretation that indicates the parcels have potential for both oil and gas. Active oil seeps are present onshore Cape Breton, which provides further evidence of the region’s hydrocarbon potential. The primary target formations in the Sydney Basin are analogous to the producing zones in the Stoney Creek oil field and McCully gas field onshore New Brunswick. These target formations have not yet been penetrated by any of the wells drilled in the Sydney Basin. Detailed geoscience and regulatory information can be found on the CNSOPB Call for Bids website at www.callforbids.ca.

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