Canada Announces 2009 Call for Bids

28 May 2009 (Last Updated May 28th, 2009 18:30)

The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) has announced details of the 2009 calls for bids in the Newfoundland and Labrador offshore area. This year there will be three separate calls for bids. The call for NL09-01 (Jeanne d’Arc basin) will consist of one

The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) has announced details of the 2009 calls for bids in the Newfoundland and Labrador offshore area.

This year there will be three separate calls for bids. The call for NL09-01 (Jeanne d’Arc basin) will consist of one parcel, NL09-02 (Laurentian subbasin) will consist of two parcels, and the call for NL09-03 (Western Newfoundland, Labrador offshore region) will consist of one parcel.

The parcels comprise 513,769 hectares.

Interested bidders will have until 4.00pm on 19 November 2009 to submit sealed bids for parcels offered in calls for bids NL09-01 (Jeanne d’Arc basin) and NL09-03 (Western Newfoundland and Labrador offshore region).

The areas have been previously assessed to identify any mitigative measures that may be required in relation to exploration activity on the parcels.

Interested parties will have the same deadline to submit sealed bids for call for bids NL09-02 (Laurentian subbasin).

For these the board will conduct a Southern Newfoundland strategic environmental assessment (2009) prior to the close of call for bids.

The board will consider any recommendations made in the SEA report and, where necessary, may amend this call for bids to ensure concerns are addressed. Any mitigative measures identified in the SEA report will have to be addressed prior to the commencement of exploration work to be conducted on these parcels, the C-NLOPB said.

Notification of any changes made to these three 2009 calls for bids will be posted on the board’s website, including any extensions to the closing date to accommodate the completion of the SEA report in relation to call for bids NL09-02 (Laurentian subbasin).

The criteria for selecting winning bids will be based on the total amount of money the bidder commits to spend on exploration of the respective parcel during period I.

Subject to ministerial approval, successful bidders will be issued an exploration licence for a term of nine years; however, during period I, a well must be spudded to validate the licence for the full nine-year term.