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CNLOPB issues call for exploration and production licence bids in two regions

C-NLOPB
C-NLOPB

The Canada-Newfoundland and Labrador Offshore Petroleum Board issued two calls for bids for exploration licences and a bid for a production licence on Wednesday.

One bid is for exploration licences in the Eastern Newfoundland Region, consisting of 16 parcels totalling 3,941,046 hectares.

The other exploration bid is for a single 142,448-hectare parcel in the Jeanne d’Arc Region.

The sole criterion for selecting a winning bid will be the total amount of money the bidders commit to spend on exploration of the parcels during the first period of a nine-year licence.

Both have a minimum bid amount of $10 million in work commitments.

Meanwhile, the CNLOPB is also calling for bids on a $25-million production licence for a 1,423-hectare parcel in the Jeanne d’Arc Region.

The only criteria for selecting a winner will be the highest drilling deposit bid.

The closing date for all bids is Nov. 7.

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