KEYFACT Energy
Regulators in Newfoundland and Labrador recently announced to bidders on eastern Canada licensing opportunities that winners of offshore licenses can now apply to have 75% of pre-bid "allowable expenditures" reimbursed.
The reimbursable cost of seismic data used to prepare the successful bid has increased three-fold with this change. The winning bidders will now be able to recover most of the cost of licensing MultiClient seismic data used to prepare bids.
KeyFacts Energy Industry Directory: CNLOPB