Five companies successful in latest offshore eastern Canada bid rounds
Nov. 4, 2022
The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) has awarded five parcels to four international majors under its latest leasing rounds.
Both the Call for Bids NL22-CFB01 (Eastern Newfoundland Region) and Call for Bids NL22-CFB02 (South Eastern Newfoundland Region) had been approved by the federal and Newfoundland and Labrador governments.
Subsequent awards of exploration licenses, expected in January 2023, remain subject to further approvals by the two governments.
The five successful bids involved work commitments totaling $238,075,321 and cover an area of 1,222,907 ha.
Courtesy C-NLOPB
Most of the parcels are beyond Canada’s 200-nautical mile zone; additional terms and conditions may be applied pursuant to article 82 of the UN Convention on the Law of the Sea.
QatarEnergy, which gained Parcel 8 in the Orphan Basin, as a partner to Exxon Mobil, said its concession is in water depths of 2,500 m to 3,000 m.
