Canadian panel eyeing Georges Bank leasing
A Canadian panel is considering the possibility of leasing that country's portion of the Georges Bank off southwestern Nova Scotia.
Under federal and provincial legislation implementing the 1986 Canada-Nova Scotia Offshore Petroleum Resources Accord, a moratorium on oil and gas activities on the Georges Bank is in effect until Jan. 1, 2000.
But the accord established a three-person Georges Bank review panel to consider the environmental and socioeconomic effects of oil and gas exploration in the region.
Panel mandates
It is due to make recommendations by July 1, 1999, to the ministers of Natural Resources Canada and the Nova Scotia Department of Natural Resources. The ministers are required to decide by Jan. 1, 2000.The panel will not consider or review any specific drilling proposals or projects.
The panel has launched a number of studies related to the Georges Bank review, including both detailed research on specific questions and general summaries focusing on answers to frequently asked questions.
It has held introductory meetings in southwestern Nova Scotia towns to discuss general issues to be considered in the review. Question and answer sessions will be held this fall to provide the public with information on Georges Bank fisheries, the oil industry, socioeconomic concerns, and other issues.
Next spring, the panel will hold workshops to better identify major issues, options, and areas of agreement. In the fall of 1998, formal public hearings will be held in southwestern Nova Scotia, Halifax, and southern New Brunswick.
Exploration prospects
There has been no exploration on the Canadian side of Georges Bank but Andrew Parker, of the Canada-Nova Scotia Offshore Petroleum Board, said seismic surveys "indicate some very attractive structures."On the U.S. side, some stratigraphic wells were drilled 20 years ago, but no leases were issued.
Icebergs are not a problem for drilling and production operations off Nova Scotia, unlike Newfoundland to the north.
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