NEWFOUNDLAND & Labrador is offering 38 offshore blocks to the E&P industry, as part of its multi-year licensing process. This acreage comes weeks after the federal government gave an environmental go-ahead for Equinor's Bay du Nord project off the province, a controversial decision that left many in the upstream sector wondering whether this will be the last major development off Newfoundland. Non-governmental organisations are threatening to sue Ottawa over the decision, a move that could deter companies wanting to bid for acreage because a legal challenge would add to industry uncertainty over investing in the province. The Canada-Newfoundland and Labrador Offshore Petroleum Board (CNLOPB) has put 28 blocks on the table in the Eastern Newfoundland region, centred on the Orphan and Flemish Pass basins, and a further 10 in the South Eastern Newfoundland area, which appears to focus on the Carson-Bonniston and Salar basins.
展开▼
