The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) invited bids for exploration licences covering 28 parcels in the Eastern Newfoundland region, and 10 parcels in the South Eastern Newfoundland region. Interested parties have until 12 p.m. NST on 2nd November 2022 to submit sealed bids, and exploration licences to successful bidders will be awarded in early 2023. As per C-NLOPB, 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 I (the first period of a nine-year licence). The minimum bid for the parcels offered is $10,000,000 in work commitments.

The Canada-Newfoundland and Labrador Offshore Petroleum Board also identified a new sector under its land tenure system–Sector NL06-EN in the Eastern Newfoundland Region. The Call for Bids for this new sector is planned for Spring 2024. Closing is expected in November 2024, followed by successful bidders being awarded exploration licences in early 2025.

Based on an assessment of nominations and land tenure considerations, the C-NLOPB has decided not to proceed with a Call for Bids in the Jeanne d’Arc Region in 2022. The decision to proceed with future Call for Bids in the Jeanne d’Arc Region will be assessed on an annual basis, per the C-NLOPB’s Scheduled Land Tenure System.

KeyFacts Energy Industry Directory: CNLOPB