June 26, 2017
Pursuant to subsection 32(2) of the Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation Act and subsection 32(2) of the Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation (Nova Scotia) Act (Accord Acts), the Canada-Nova Scotia Offshore Petroleum Board (the Board) is providing notice of the three fundamental decisions respecting the Call for Bids NS17-1 made on May 23, 2017. These three fundamental decisions are:
- the making of a Call for Bids;
- the Terms and Conditions of an Exploration Licence, and;
- the Terms and Conditions of a Significant Discovery Licence.
Information about these three fundamental decisions can be found here: Call for Bids NS17-1.
In accordance with subsection 32(1) of the Accord Acts, the Board provided notice of these three fundamental decisions to both the federal Minister of Natural Resources and the provincial Minister of Energy on May 23, 2017.
In order to move forward on the three fundamental decisions and issue the Call for Bids NS17-1, the Board requires approval from both the federal Minister of Natural Resources and the provincial Minister of Energy.
The federal Minister of Natural Resources ratified the Board’s three fundamental decisions. The provincial Minister of Energy provided notice to the Board that the implementation of these three fundamental decisions is suspended in accordance with section 34 of the Accords Acts for a period ending July 22, 2017.
For more information, please contact:
Stacy O'Rourke
Director, Communications
email
902.410.6402