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Hydro and partners win Nova Scotia offshore license

November 6, 2001, 00:00 CET

The Canada Nova Scotia Offshore Petroleum Board (CNSOPB) has announced the results of bids for nine new exploration licences offshore Nova Scotia. Norsk Hydro Canada Oil & Gas Inc. and its partners Marathon Canada and Murphy Oil Company succeeded in their bid to get an interest in Exploratory Licence Land parcel (No. 6 - EL 2411).

Marathon is operator of the license with 50 percent, while Hydro and Murphy each have 25 percent. The bid for this block was CAD 193.6 million.

Parcel 6 is a deep water block with sea depths ranging between 1000 and 3500 meters.

The call for bids was made in June and closed on October 31. CNSOPB says it received bids on all nine parcels. The bids received represent the amount of money bidders intend to spend exploring the tracts during the initial five-year period of a nine year licence.