Natural
Resources
May 28, 2009
Calls for Bids Span Three Offshore Regions
The offshore land included in the 2009 Calls for Bids by the
Canada-Newfoundland and Labrador Offshore Petroleum Board (CNLOPB) today
represents the diversity of the province�s offshore area with parcels
available in multiple regions.
"This year four parcels are available for bidding in three different
offshore regions, including our prolific Jeanne d�Arc Basin, where all
of our offshore production is based to date," said the Honourable Kathy
Dunderdale, Minister of Natural Resources. "Three of the parcels are in
basins which are currently non-producing, demonstrating that oil
companies continue to have interest in our highly-prospective regions."
The Provincial Government promoted these offshore regions at the
Offshore Technology Conference in Houston, Texas and the Canadian
Society of Petroleum Geologists� Annual Convention in Calgary in May and
will promote them again at the American Association of Petroleum
Geologists 2009 Annual Convention and Exhibition in Denver, Colorado in
June.
Call for Bids NL09-01 consists of one parcel in the Jeanne d�Arc
Basin; Call for Bids NL09-02 consists of two parcels in the Laurentian
Subbasin, and Call for Bids NL09-03 consists of one parcel in the
Western Newfoundland and Labrador Offshore Region.
"We take every opportunity to promote the Newfoundland and Labrador
offshore region and our open and transparent bidding process that
ensures interested parties can competitively access highly-prospective
parcels," said Minister Dunderdale. "The fact that the sole criterion
for evaluating bids is the value of work commitments ensures that all of
the investment goes toward exploration."
Details of the 2009 Calls for Bids can be found on the CNLOPB website
at www.cnlopb.nl.ca Deadline for submission of bids is 4:00 p.m. on
November 19, 2009. The minimum bid for each parcel is $1 million, except
for the parcel in the Western Newfoundland and Labrador Offshore Region
which has a minimum bid of $250,000.
The 2008 Calls for Bids resulted in work commitments valued at
approximately $132 million.
Geological reports that highlight the regional geology and
exploration potential of the province�s offshore basins can be found on
the Department of Natural Resources� website at
www.nr.gov.nl.ca/mines&en/oil
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Media contact:
Tracy Barron
Director of Communications
Department of Natural Resources
709-729-5282, 690-8241
tracybarron@gov.nl.ca
2009 05 28 3:35 p.m.