Nova Scotia looks to revive its offshore

The province on Canada’s eastern coast is attempting to breathe new life into its moribund offshore oil and gas industry

In late September 2022, the Canada-Nova Scotia Offshore Petroleum Board issued its Call for Bids NS22-1 for eight “highly prospective” parcels: five on the Scotian Slope and three in the Scotian Shelf’s Sable Island area. To assess the plausibility and potential timeline for Nova Scotia to bring offshore production back onstream, Petroleum Economist interviewed Tom Liles, vice-president for upstream research at Oslo-based consultancy Rystad Energy. What do you see as the likelihood of Nova’s Scotia’s new bid round successfully reviving offshore production and why? Liles: This process is still in its infancy, and there are a lot of pieces that would need to come together before production cou

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