Exploration Activity Expected to Soar

It's another example of Nova Scotia's growing oil and gas industry, according to Petroleum Directorate Minister Gordon Balser. The minister expects a great deal of interest in the latest offshore blocks put out for exploration bids.

"We expect this move by the Canada Nova Scotia Offshore Petroleum Board will lead to even more exploration activity off Nova Scotia" said Mr. Balser. "The latest call for bids on eight blocks is on top of the 43 blocks already under active exploration licences. It's another vote of confidence in our oil and gas industry."

The current exploration licences carry a commitment to do $843 million worth of exploration activity over the next three to five years. The latest blocks are expected to bring the figure close to a billion dollars. However, Mr. Balser pointed out there are other issues.

"The process now in place requires the Canada Nova Scotia Offshore Petroleum Board to take into account the views of numerous groups which may be affected, including fishing interests," said Mr. Balser. "The Board has an extensive list of stakeholders who will be consulted to ensure the activities that take place allow for the growth of the fishery as well as the oil and gas industry."

The call for bids is open until 4 p.m., October 30, 2000. Full information on the bids and the bidding process is available in a news release and related documents from the Canada Nova Scotia Offshore Petroleum Board at www.cnsopb.ns.ca .

NOTE TO EDITORS: A map of the exploration blocks is available in jpg at www.gov.ns.ca/cmns/photos/petro/WebJune2000blocks.jpg of in TIF at www.gov.ns.ca/cmns/photos/petro/NewExplr.tif .