Bids invited for Newfoundland & Labrador licenses

The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) has issued two Calls for Bids in the Flemish Pass/Central Ridge region of the Newfoundland and Labrador Offshore Area.

Offshore staff

St JOHN’S, Newfoundland -- The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) has issued two Calls for Bids in the Flemish Pass/Central Ridge region of the Newfoundland and Labrador Offshore Area.

Call for Bids NL10-02 comprises two parcels, 327,372 ha (1,264 sq mi) in total, while Call for Bids NL10-03 comprises one parcel of 3,773 ha (15 sq mi).

In both cases, bids must be received by 4 p.m. on Nov. 30. The Board says the sole selection criterion will be the total amount of money committed to exploration during the first six years of a nine-year licence (Period 1). A well must be drilled during Period 1 to validate the license for the full nine-year term.

In April, the Board invited bids for NL10-01 in the offshore Jeanne d’Arc basin. The closing date for submissions is 4 p.m. on Nov. 17.

07/09/2010

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