The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) has issued calls for bids for exploration licenses in the eastern and southeastern Newfoundland regions.
NL22-CFB01 (exploration licenses, eastern region) consists of 28 parcels and a total of 7,005,595 hectares. NL22-CFB02 (exploration licenses, southeastern region) consists of 10 parcels and a total of 2,665,292 hectares, the agency said in a May 11 release.
Winning bids will be selected based on the total investment committed by bidders for exploration work on the parcel during the first period of a 9-year license. The minimum bid is $10 million (Can.).
Planning, monitoring, and assessment of offshore petroleum activities will ensure they occur in an environmentally responsible way, C-NLOPB said. Required regional and/or site-specific mitigation measures will be undertaken before any petroleum-related operations can begin within a license area, as conditions of C-NLOPB approvals and authorizations.
Sealed bids may be submitted until 12:00 p.m. NST Nov. 2, 2022.
