Nova Scotia Tries to be More Attractive to Offshore Oil and Gas Exploration

The Canada-Nova Scotia Offshore Petroleum Board said that it intends to make the province's coast more attractive for oil and gas exploration by introducing more flexible terms and conditions for new exploration licenses.

"We want the offshore of Nova Scotia to be regarded as a part of the global industry, not apart from it," Diana Dalton, chair of the Canada-Nova Scotia Offshore Petroleum Board, said in a speech to the Offshore Onshore Technology Association of Nova Scotia on 19 April.

Dalton said that in the 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. This type of license will appeal to a broader range of oil and gas companies, allowing them to do preliminary work without up-front, long-term commitments, she said.

The board plans to appraise and evaluate data in areas thought to have potential for oil and gas. The board then will package the information and announce that the area is open for exploration through a competitive call for bids at regular intervals.

According to Dalton, the board also plans to begin using a new data management system, which is expected to be fully operational in October.

"We believe the changes we've announced today will get explorers exploring at minimal cost and provide valuable geosciences 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 offshore Nova Scotia.