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.
On May 12th, BP Canada (“BP”) held an information session for potential suppliers in connection with its ongoing offshore exploration program. BP is currently processing seismic data collected over the previous year and is still targeting 2017 to begin exploratory drilling. BP has awarded the contract for an Environmental Impact Assessment (“EIA”) to Stantec and the EIA is currently underway.
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.
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.