Offshore Land Parcels AwardedHere is the latest information on the Call for Bids for 10 Land Parcels Offshore Newfoundland.Source: www.oilworks.com/new/atcannews.html
$88.6 MILLION BID FOR 10
LAND PARCELS OFFSHORE NEWFOUNDLAND (12/13/00)
Five petroleum companies bid in excess of $86.6 million for 10 land parcels offshore Newfoundland at the Call for Bids 2000 which concluded in St. John's, Newfoundland Tuesday.
A joint effort between Petro-Canada and Norsk Hydro Canada Oil and Gas put up $55.1 million for 188,420 hectares in the deep water Carson Bonnition basin located just south of the Terra Nova oil field off the Grand Banks of Newfoundland.
Husky Oil Limited bid $25.1 million for four parcels, including two in the lucrative Jeanne d'Arc basin that contains the Hibernia, Terra Nova, and White Rose developments. Polaris Resources of Calgary bid $5.6 million for three parcels, while PanCanadian Petroleum will spend $1.6 million to develop one parcel in the Carson basin. Corridor Resources of Halifax, Nova Scotia bid $1.32 million for the only parcel offered offshore western Newfoundland.
The Canada-Newfoundland Offshore Petroleum Board will issue exploration licenses to the successful bidders in January 2001. The bids represent the expenditures the bidders will commit for exploration work in the first five years of the nine-year leases.
For the map associated with each land sale region, please click the options below: Jeanne d'Arc basin & Carson/Bonnition basin, South Whale basin, West Coast, Regional Overview