The Governments of Canada and Newfoundland and Labrador have announced the most significant amendments to the Atlantic Accord legislation since 1987, introducing new regulatory powers over offshore renewable projects and changing elements of the regulation of offshore petroleum interests, that may have long term implications for the industry. Bill C-49 In late May, Canada announced […]
Background Bill C-69 was passed by the Parliament of Canada in June 2019.[1] It was omnibus legislation, a package of both new legislation and amendments to existing legislation. One of the objectives of Bill C-69 was a complete overhaul of the environmental assessment of large resource projects in Canada. It was, and continues to be, a […]
On Monday 1 April 2019 the Government of Canada and the Government of Newfoundland and Labrador announced a deal described as an agreement to amend and update the Atlantic Accord. The 2019 Agreement The original Atlantic Accord, agreed between Canada and the Province in 1985, was a comprehensive document which established the joint management system […]
In an announcement last week, the Canada-Nova Scotia Offshore Petroleum Board (“CNSOPB”) has issued Call for Bids NS16-1 for Exploration Licences consisting of six (6) parcels of the coast of Nova Scotia.
Despite the price of oil hovering near $50 per barrel, Shell Canada (“Shell”) has announced it will continue exploring off the coast of Nova Scotia. Shell, along with its partners in the Shelburne Basin exploration project, ConocoPhillips and Suncor, will adhere to their existing plans for this year and the next. Exploratory offshore drilling is expected to commence in 2015.
BP Canada (“BP”) has partnered with Hess Corporation (“Hess”) in its ongoing offshore oil exploration program. Hess has taken a 40% interest in BP’s work commitment of $1 billion with respect to four deep-water exploration blocks off the coast of Nova Scotia. BP will remain the operator for its four exploration licences, which are located approximately 300 kilometres off the coast of Nova Scotia.
In June of this year, Shell Canada Ltd. (“Shell”) announced that it had entered into an agreement with ConocoPhillips and Suncor Energy to become joint venture partners with respect to the exploration and development of Shell’s $1 billion offshore exploration project in the Shelburne Basin. Shell maintains a 50% interest in six exploration licenses that cover a contiguous area of 19,845 km2 located roughly 300 km off the coast of Nova Scotia and Shell remains the operator of the project.