HALIFAX, April 19 /CNW/ - The regulator of Nova Scotia's offshore
petroleum industry has announced changes intended to make the province's
offshore more attractive for exploration.
In a speech to members of the oil and gas industry the chair of the
Canada-Nova Scotia Offshore Petroleum Board, Diana Dalton, introduced more
flexible terms and conditions for new exploration licenses.
In future, there will be a second type of Exploration License with a term
of two or three years and with a lower cost of entry, Ms Dalton told a
business audience at a breakfast hosted by the Offshore Onshore Technology
Association of Nova Scotia. This type of licence will appeal to a broader
range of oil and gas companies allowing them to do preliminary work without
up-front, long-term commitments.
"The changes we have announced today will make the offshore of Nova
Scotia more attractive for exploration," she said.
Ms Dalton also said that in future the board will appraise and evaluate
data on areas thought to have potential for oil and gas. The board will
package the information and announce that the area is open for exploration
through a competitive call for bids at regular intervals.
"We want the offshore of Nova Scotia to be regarded as a part of the
global industry, not apart from it," Ms Dalton said, noting that the changes
follow broad consultation and consideration of best practices worldwide.
Ms Dalton also gave details of a state-of-the-art data management system
which will be fully operational in October.
"We believe the changes we've announced today will get explorers
exploring at minimal cost and provide valuable geoscience information on the
offshore," she said.
The Canada-Nova Scotia Offshore Petroleum Board is a joint agency of the
governments of Canada and Nova Scotia. The board regulates petroleum
activities in the offshore Nova Scotia.
To read the speech in its entirety or to listen to the audio webcast,
For further information:
For further information: or to book an interview with Diana Dalton:
Debbie Mountenay, CNSOPB, (902) 496-0743, email@example.com