Newfoundland seeks exploration bids
The Canada-Newfoundland and Labrador Offshore Petroleum Board has opened three exploration areas off Newfoundland and
Labrador and has invited companies to bid on the rights to drill in the parcels.
Drilling rights are available in the Laurentian sub-basin, the Western Newfoundland, Labrador Offshore region and in
the Jeanne d'Arc basin.
The province has three operating offshore oil projects, all in the Jeanne d'Arc basin about 350 km (217 miles)
southeast of the provincial capital of St John's, said a report.
In April, StatoilHydro said it had made a significant discovery at its deep-water Mizzen prospect in the Flemish Pass
basin 500 km east-northeast of St John's.
Bids for the newly opened parcels are due in November, with winning offers based on the amount of money committed to spend exploring the property.
