Natural Resources
November 30, 2016

The following statement was given today in the House of Assembly by the Honourable Siobhan Coady, Minister of Natural Resources:

Anadarko Acquires Flemish Pass Interests from Shell

Mr. Speaker, I stand in this Honourable House today to welcome Anadarko Petroleum Corporation to the Canada-Newfoundland and Labrador offshore area. I am pleased to report that Anadarko has successfully acquired a working interest in five exploration licences from Shell – which was initially registered under BG International Limited – for licences in the highly sought after Flemish Pass Basin.

Anadarko Petroleum Corporation is one of the world’s largest independent oil and natural gas exploration and production companies. This acquisition gives Anadarko access to 1.2 million hectares of prospective exploration acreage, having total work commitments of $477 million.

As Minister of Natural Resources, one of my key priorities is to further encourage exploration and development of our offshore including attracting new entrants. Significant exploration opportunity exists in our province’s offshore, as evidenced by the results of the recent Call for Bids by the Canada-Newfoundland and Labrador Offshore Petroleum Board, which saw other new entrants gain licences in the area: Hess Canada Oil and Gas; Noble Energy Canada; and Delek Group (Navitas Petroleum Ltd. and DKL Investments Ltd.), adding to the total number of operators offshore today. Overall, that call resulted in a total work commitment of close to $758 million with eight successful bids received.

Officials from my department have already met with representatives from Anadarko, and we officially welcome them to the Canada-Newfoundland and Labrador offshore area.

Thank you.

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2016 11 30                              2:20 p.m.