(Halifax, NS) The Canada - Nova Scotia Offshore Petroleum Board today announced the results of Call for Bids NS08-2 for two new offshore Exploration Licences.
The Board has accepted the following winning bids:
| Call for Bids NS08-2 | Successful Bidder | Work Expenditure Bid |
|---|---|---|
|
Parcel 1 |
BEPCo. Canada Company |
$6.3 Million |
|
Parcel 2 |
BEPCo. Canada Company |
$6.3 Million |
|
Contact information |
Ian Padden, Project Manager |
The Work Expenditure Bid represents the amount of money the bidder intends to spend exploring the land parcels during the initial six-year period of a nine-year licence. The minimum bid required was $500,000. An Exploration Licence carries a maximum term of nine years.
Both parcels are located approximately 160km southwest of Sable Island in deepwater, with water depths ranging from 1000-3600m.
Call for Bids NS08-2 was issued on November 21, 2008. At that time, interested parties were invited to bid on the parcels and the public was invited to submit written comments to the Board. Bidding closed on June 26, 2009. Exploration Licences will be issued by the Board on August 14, 2009, subject to Ministerial approval and in accordance with the Accord Acts.
A detailed copy of the EL terms and conditions can be found by clicking here, or by visiting the Board’s website.
-30-
About the Board
The Canada-Nova Scotia Offshore Petroleum Board is the independent joint agency of the Governments of Canada and Nova Scotia responsible for the regulation of petroleum activities and resources offshore Nova Scotia. Visit: www.cnsopb.ns.ca.
For further information, please contact:
Tim Church
Sr. Advisor, Communications & Government Affairs
Canada-Nova Scotia Offshore Petroleum Board
902-496-0750, Email: tchurch@cnsopb.ns.ca