Relevant well and seismic data for all parcels can be accessed, free of charge, via the CNSOPB Data Management Centre: www.cnsopbdmc.ca
Exploration Licence Terms and Conditions
Bidding on each parcel will be based solely on the amount of money proposed to be expended on the exploration of the respective parcel (“Work Expenditure Bid”). The successful bidder(s) will be awarded an Exploration Licence (EL) with a maximum term of 9 years. The successful bidder will be required to post security for the performance of work in the amount of 25% of its Work Expenditure Bid within 30 days of being notified that its bid was successful. This Work Deposit is refundable to the extent of 25% of approved allowable expenditures, as more particularly described in the form of Exploration Licence. A 150% credit will be applied to allowable expenditures approved in the first three years.
Bids for deepwater parcels must be accompanied by a confirmation of operating experience that satisfies the Board that the Bidder, its parent company or an affiliated company has operated, or has been a joint operator, in the drilling of exploration wells in water depths greater than 800 meters in the past ten (10) years.
For more information: How to Bid
Offshore Energy Technical Research Association: Play Fairway Analysis Project
The Play Fairway Analysis (PFA) has identified rich and varied hydrocarbon potential in the Nova Scotia Offshore, with an unrisked yet to find of 120 TCF of natural gas and 8 billion barrels of oil. The diverse characteristics and scale of opportunities, combined with the proximity to the world's largest market and the political stability of a G8 nation, makes Nova Scotia Offshore a valuable investment opportunity for the energy industry.