Shell taps into Nova Scotia’s offshore oil potential with four drilling permits
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The board said Shell’s combined $970-million bids for the four projects were the highest it had received.
Peter MacKay, Minister of National Defence and Regional Minister for Nova Scotia, said that the bid highlighted the reinvigorated interest in Nova Scotia’s offshore oil potential, which could be as much as eight billion barrels of oil.
“Exploration off Nova Scotia’s coasts ensures that our energy sector remains dynamic and jobs are created in our communities,” the Minister said.
The CNSOPB will proceed with issuing exploration licences on March 1, 2012, to Shell, pending final ministerial approval by both the federal and provincial governments.
