Nova Scotia pushes for deepwater E&P

Offshore staff

(Canada) - Nova Scotia is pushing for oil and gas companies to explore in the deep waters off the Scotia Shelf.

Preliminary results of a new $100,000 study indicate this is the location for drilling, said the NS Dept of Energy at the Offshore Technology Conference in Houston, Texas.

The study will be publicly released in June.

Water depths in the area range from 2,000 to 2,400 m.

Undiscovered gas potential of up to 41 tcf of gas is believed to exist based on a previous assessment of this deepwater area.

Seven deepwater wells have been drilled offshore Nova Scotia, with Marathon Oil making a gas discovery in 2002.

Nova Scotia Energy Minister Bill Dooks says the study "found that our petroleum system is different and more complex than deepwater off the Gulf of Mexico and Angola.

"This is important research and it will provide insights for the entire industry."

05/03/06