Canadian Manufacturing

No bidders registered for oil and gas lands off Nova Scotia

Canada-Nova Scotia Offshore Petroleum Board put four sites on auction block in May; bidding closed in October

HALIFAX—There were no bidders for the latest deepwater parcels put on the auction block by the Canada-Nova Scotia Offshore Petroleum Board.

The four sites on the eastern Scotian Slope of the province’s offshore were put up for auction by the regulator on May 5.

Bidding closed at the end of last month.

BP plc and Shell Canada Ltd. are continuing to work on their offshore exploration of deepwater properties.

In May, the province announced it would spend $12 million over four years to fund research to assist oil and gas exploration.

BP in November 2012 was granted the right to explore in the province’s offshore after it submitted a $1-billion bid, the highest ever accepted for deepwater exploration rights in Atlantic Canada.

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