This is one of the most promising deepwater exploration areas in the world. In addition to the producing basins, Eastern Canada also holds potential for exciting new discoveries and world-class oil production in some highly prospective basins. Frontier acreage is adjacent to discoveries in Bay du Nord, Mizzen, Harpoon, and existing fields such as Hibernia, White Rose, Terra Nova, and Hebron.
Access to new acreage, transparent fiscal terms, and a predictable land-sale policy make Eastern Canada an attractive region for oil and gas exploration.
The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) has issued a Call for Bids for Exploration Licences in the Eastern Newfoundland Region Call for Bids No. NL24-CFB01. Interested parties will have until midnight (24:00) Newfoundland time, 6 November 2024 to submit sealed bids for the parcels offered in this Call for Bids.