Nova Scotia parcels attract hefty bidding

A group of Mobil Oil Canada Ltd., Shell Canada Ltd., and Imperial Oil Resources Ltd. bid nearly a third of the total $592.5 million (Canadian) in work commitments offered for 19 of 20 exploration licenses covering about 2.2 million hectares off Nova Scotia. The group grabbed up licenses for six parcels (Nos. 3-8) with bids totaling $189.9 million. One parcel (No. 2) received no bid. Novia Scotia Premier Russell MacLellan announced results of the licensing round at last week's Offshore Technology Conference (see related story, p. 21). Offshore bidding was managed by the Canada-Nova Scotia Offshore Petroleum Board, which oversees offshore activity. MacLellan said that ...

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