Nova Scotia Offshore
Explore Offshore Nova Scotia’s Play Fairway Analysis and discover the region’s world class untapped hydrocarbon potential of 120 trillion cubic feet of gas and eight billion barrels of oil.
Learn how Nova Scotia’s modern regulatory regime, energy infrastructure and mature hydrocarbon service sector can benefit your bottom line.
The diversity of the opportunity set makes Nova Scotia of interest to a wide range of companies. Combined with the proximity to the world’s largest market and the political stability of a G8 nation, this makes Nova Scotia Offshore a very valuable investment opportunity for the oil industry. This became evident when, subsequent to the completion of the PFA, two Call for Bids rounds were held. In 2011, Shell Canada, was awarded four deep water parcels in the southwest for a combined work expenditure bid of $970 million. In 2012, BP was awarded four deep water parcels in the region south west of Sable Island for a total work commitment of $1.05 billion. Additionally, Shell Canada was also awarded two deep water and two shelf parcels for a combined work commitment of $32 million. In total, this resulted in $2.05 billion in work commitment bidding including the highest bids received in Atlantic Canada on both a per bid round and per block basis.
A potential of 120 trillion cubic feet of gas and eight billion barrels of oil, the Play Fairway Analysis offers incredible new geoscience and exciting new opportunity… read more.
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