Offshore regulator issues call for bids

The Canada-newfoundland and Labrador Offshore Petroleum Board (CNLOPB) on Monday issued a call for bids for exploration licences in the eastern Newfoundland region.

A news release notes there are 41 parcels and a total of 10,287,196 hectares up for bidding — 32 of which have been made available under previous calls for bids or relinquishment of lands that have subsequently reverted back to Crown reserve. Interested parties will have until 12 p.m. Newfoundland time on Nov. 6 to submit bids.

The sole criterion for selecting a winning bid will be the total amount of money the bidder commits to spend on exploration of the parcel during Period 1 (the first six years of a nine-year licence). The minimum bid for the parcels offered is $10 million in work commitments.

The release notes that offshore safety and environmental protection are paramount and the CNLOPB supports action by the federal and provincial governments to address climate change and protect notable marine areas. Some of the parcels in this 2024 call for bids overlap the Northeast Newfoundland Slope Marine Refuge. The CNLOPB will continue to work closely with the Department of Fisheries and Oceans (DFO) and others in the protection of environmentally significant areas, the news release stated, and emissions-related considerations will be assessed as part of the regulatory review process when companies propose specific plans.

“The eastern Newfoundland region includes a number of important areas for fish harvesters who fish for crab and other species,” the release notes. “The CNLOPB fully appreciates the importance of both the fisheries and energy sectors and will continue to engage with fisheries stakeholders, DFO, other federal and provincial agencies, and other affected stakeholders throughout the land tenure process. Any companies acquiring exploration licences pursuant to this call for bids will be required to engage with fishing interests before any oil and gas activities are authorized.”