C-NLOPB launches latest offshore Canada bid round

Offshore staff

ST JOHN’s, Canada — The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) has opened a new licensing process over the offshore eastern Newfoundland and southeastern Newfoundland regions.

Call for Bids (Cumulative Parcels) No. NL23-CFB01 (eastern Newfoundland) comprises 28 parcels across a total of 7,222,551 ha. Call for Bids (Cumulative Parcels) No. NL23-CFB02 (southeastern Newfoundland) encompasses 19 parcels extending more than 4,982,275 ha.

Sealed bids must be submitted no later than 12 p.m. Newfoundland Time on Nov. 1, 2023. Pending ratification of any resulting awards by the federal and Newfoundland and Labrador governments, exploration licenses would be issued in early 2024.

The sole criterion determining the winning bid will be the sum that the bidder commits to spend on exploration during the first period of a nine-year license. The minimum acceptable bid is $10 million.

However, the C-NLOPB has decided not to proceed with a call for bids in the offshore Jeanne d’Arc region this year, but will instead assess the area on an annual basis under its scheduled Land Tenure system.

PGS is offering its data library to parties interested in the two confirmed license rounds, with high-resolution GeoStreamer 3D data over the available areas.

The company’s Blomidon 3D survey covers 3,526 sq km, including Tertiary and Cretaceous leads on open acreage in the eastern Newfoundland call for bids.

PGS’ South Bank 3D provides 2, 635 sq km of broadband 3D over an area with an extensive huge Tertiary fan system included in the southeastern Newfoundland call for bids.

5/1/2023