Shell welcomes partners to offshore deepwater Nova Scotia project
ConocoPhillips and Suncor Energy will join Shell as joint venture partners on its deepwater Shelburne basin exploration program.
The agreement reached between the three companies involves Shell farming down non-operated equity in its Shelburne exploration licenses offshore Nova Scotia, Canada. Shell will maintain a 50% interest and remain operator. ConocoPhillips will acquire a 30% non-operating interest, and Suncor will acquire a 20% non-operating interest.
Shell’s six exploration licenses (ELs 2423, 2424, 2425, 2426, 2429, and 2430) cover a contiguous area of 19,845 sq km (7,662 sq mi) about 300 km (186 mi) offshore of Nova Scotia. They are in water depths of 500 m (1,640 ft) to 3,500 m (11,480 ft).